New Issue: ABN Amro prices $4 million 13.55% reverse exchangeables linked to USG

By Angela McDaniels

Tacoma, Wash., March 20 - ABN Amro Bank NV priced $4 million of 13.55% Knock-in Reverse Exchangeable Securities due March 25, 2009 linked to the common stock of USG Corp., according to an FWP filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless USG stock falls by more than 35% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of USG shares equal to $1,000 divided by the initial share price.

ABN Amro Inc. is the lead agent.

Issuer:	ABN Amro Bank NV
Issue:	Knock-in Reverse Exchangeable Securities
Underlying stock:	USG Corp. (Symbol: USG)
Amount:	$4 million
Maturity:	March 25, 2009
Coupon:	13.55%, payable monthly
Price:	Par
Payout at maturity:	If USG stock falls below the knock-in level during the life of the notes and the final share price is less than the initial share price, 27.964 USG shares; otherwise, par
Initial share price:	$35.76
Knock-in price:	$23.24, 65% of initial share price
Pricing date:	March 19
Settlement date:	March 25
Agent:	ABN Amro Inc.

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