ABN Amro to price 11% knock-in reverse convertibles linked to basket of energy stocks

By Jennifer Chiou

New York, July 11 - ABN Amro Bank NV plans to price 11% annualized knock-in reverse convertible securities due July 30, 2008 linked to a basket consisting of 10 energy stocks, according to a 424B2 filing with the Securities and Exchange Commission.

The basket includes the common stock of BJ Services Co.; ConocoPhillips; Ensco International Inc.; Marathon Oil Corp.; Noble Corp.; Rowan Cos., Inc.; Schlumberger Ltd.; Suncor Energy, Inc. and Valero Energy Corp. and American Depositary Shares representing the common stock of Tenaris SA.

Interest will be payable monthly.

The securities are expected to price on July 26 and settle on July 31.

For each component stock, investors will receive 10% of par unless that stock falls below its knock-in price, 80% of its initial price, during the life of the notes and finishes below the initial price. If such a knock-in event occurs, the payout for that component will be 10% of par times the performance of that stock.

The total payout at maturity will be the sum of the payouts for the 10 components.

ABN Amro Inc. will be the agent.

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