ABN Amro plans 17% Knock-in Reverse Exchangeables linked to First Marblehead

By Jennifer Chiou

New York, May 22 - ABN Amro Bank NV plans to price 17% annualized Knock-in Reverse Exchangeable Securities due Sept. 6, 2007 linked to the First Marblehead Corp. stock, according to a term sheet.

Payment at maturity will be determined according to the performance of First Marblehead stock. If the stock closes below the knock-in price during the life of the notes and finishes below the initial stock price, investors will receive a number of First Marblehead shares equal to $1,000 divided by the initial stock price. The knock-in price will be 80% of the initial stock price.

Otherwise, investors will receive par in cash.

The notes will price on June 1 and settle on June 6.

LaSalle Financial Services, Inc. will be the agent.

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