New Issue: ABN Amro sells $0.99 million 12% Knock-in Reverse Exchangeables linked to Reliance Steel

By Jennifer Chiou

New York, Dec. 29 - ABN Amro Bank NV priced $0.99 million of 12% Knock-in Reverse Exchangeable notes due Dec. 31, 2007 linked to Reliance Steel & Aluminum Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payment at maturity will be determined according to the performance of Reliance Steel stock. If the stock trades at or below $27.51, the knock-in price, and closes below $39.30, the initial price, between Dec. 26, 2006 and Dec. 31, 2007, investors will receive a number of Reliance Steel shares equal to $1,000 divided by the initial stock price. The knock-in price is 70% of the initial price.

Otherwise, investors will receive par in cash.

Issuer:	ABN Amro Bank NV
Issue:	Knock-in Reverse Exchangeable notes
Underlying stock:	Reliance Steel & Aluminum Co.
Amount:	$0.99 million
Maturity:	Dec. 31, 2007
Coupon:	12%, payable quarterly
Price:	Par
Payout at maturity:	If Reliance Steel stock closes below the knock-in price during the life of the notes and finishes below the initial price, 25.445 shares of Reliance Steel stock; otherwise, par in cash
Initial price:	$39.30
Knock-in price:	$27.51, 70% of initial price
Exchange ratio:	25.445 shares, at maturity
Pricing date:	Dec. 26
Settlement date:	Dec. 29
Agent:	ABN Amro Inc.
Fees:	2.5%
Distribution:	Off shelf

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