ABN Amro plans 17.5% Knock-in Reverse Exchangeables linked to First Marblehead

By E. Janene Geiss

Philadelphia, June 19 - ABN Amro Bank NV plans to price Knock-in Reverse Exchangeable Securities S-Notes due Dec. 28, 2007 linked to First Marblehead Corp. stock, according to a 424B filing with the Securities and Exchange Commission.

The six-month notes will pay 8.75% for an annualized rate of 17.5%. Interest will be payable monthly.

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 June 25 and settle June 28.

ABN Amro Inc. will be the agent.

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