New Issue: ABN Amro prices $400,000 of 21% reverse convertibles linked to Chipotle Mexican

By E. Janene Geiss

Philadelphia, Dec. 28 - ABN Amro Bank NV priced $400,000 of 21% annualized Knock-In Reverse Exchangeable notes due June 30, 2008 linked to Chipotle Mexican Grill, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless Chipotle Mexican stock falls below the protection price of $109.95, 75% of the initial price of $146.60, during the life of the notes and finishes below the initial price in which case the payout will be 6.821 shares of Chipotle Mexican stock.

ABN Amro Inc. is the agent.

Issuer:	ABN Amro Bank NV
Issue:	Knock-In Reverse Exchangeable notes
Underlying stock:	Chipotle Mexican Grill, Inc. (NYSE: CMG)
Amount:	$400,000
Maturity:	June 30, 2008
Coupon:	21%, payable monthly
Price:	Par
Payout at maturity:	If Chipotle Mexican shares fall below the knock-in price during the life of the notes and finish below the initial share price, a number of shares equal to $1,000 divided by the initial share price; otherwise, par
Initial price:	$146.60
Protection price:	$109.95, 75% of $146.60
Exchange ratio:	6.821
Pricing date:	Dec. 21
Settlement date:	Dec. 31
Agent:	ABN Amro Inc.
Agent fee:	2.5%

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