New Issue: ABN prices $0.515 million 12% Knock-in Reverse Exchangeables linked to Ultra Petroleum

By Jennifer Chiou

New York, June 20 - ABN Amro Bank NV priced a $0.515 million issue of 12% Knock-in Reverse Exchangeable notes due June 21, 2007 linked to Ultra Petroleum Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payment at maturity will be determined according to the performance of Ultra Petroleum stock:

• If the stock trades at or below $31.55, the knock-in price, and closes below $52.58, the initial price, investors will receive 19.019 Ultra Petroleum shares per $1,000 principal amount of notes.

• Otherwise the payout is par in cash.

Issuer:	ABN Amro Bank NV
Issue:	Knock-in Reverse Exchangeable senior medium-term series A notes
Underlying stock:	Ultra Petroleum
Amount:	$0.515 million
Maturity:	June 21, 2007
Coupon:	12%, payable quarterly
Price:	Par
Payout at maturity:	If Ultra Petroleum stock closes below the knock-in price during the life of the notes and finishes below the initial price, 19.019 shares of Ultra Petroleum stock; otherwise par in cash
Initial stock price:	$52.58
Knock-in price:	$31.55, 60% of initial price
Exchange ratio:	19.019 shares, at maturity
Pricing date:	June 16
Settlement date:	June 21
Agents:	LaSalle Financial Services Inc., ABN Amro Inc.
Distribution:	Off shelf

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