New Issue: ABN Amro prices $1.5 million 17.65% reverse convertibles linked to Fannie Mae

New York, May 9 - ABN Amro Bank NV priced $1.5 million of 17.65% Knock-In Reverse Exchangeable notes due Nov. 12, 2008 linked to Federal National Mortgage Association (Fannie Mae) stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless Fannie Mae stock falls below the protection price of $17.43, 60% of the initial price of $29.05, during the life of the notes and finishes below the initial price in which case the payout will be 34.423 shares of Fannie Mae stock.

ABN Amro Inc. is the agent.

Issuer:	ABN Amro Bank NV
Issue:	Knock-In Reverse Exchangeable notes
Underlying stock:	Federal National Mortgage Association (Fannie Mae) (NYSE: FNM)
Amount:	$1.5 million
Maturity:	Nov. 12, 2008
Coupon:	17.65%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Fannie Mae stock falls below the protection price of $17.43, 60% of the initial price, and finishes below the initial price, in which case 34.423 shares of Fannie Mae stock
Initial price:	$29.05
Protection price:	$17.43, 60% of $29.05
Exchange ratio:	34.423
Pricing date:	May 7
Settlement date:	May 12
Agent:	ABN Amro Inc.
Fees:	3.5%

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