New Issue: ABN Amro sells $400,000 12% Knock-in Reverse Exchangeables linked to Ryder

By Laura Lutz

Des Moines, April 27 - ABN Amro Bank NV priced $400,000 of 12% Knock-in Reverse Exchangeable Securities due July 31, 2007 linked to Ryder System, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payment at maturity will be determined according to the performance of Ryder stock. If the stock trades at or below $48.67, the knock-in price, and closes below $54.08, the initial price, during the life of the notes, investors will receive a number of Ryder shares equal to $1,000 divided by the initial stock price. The knock-in price is 90% of the initial price.

Otherwise, investors will receive par in cash.

Issuer:	ABN Amro Bank NV
Issue:	Knock-in Reverse Exchangeable Securities
Underlying stock:	Ryder System, Inc.
Amount:	$400,000
Maturity:	July 31, 2007
Coupon:	12%, payable monthly
Price:	Par
Payout at maturity:	If Ryder stock closes below the knock-in price during the life of the notes and finishes below the initial price, 18.491 shares of Ryder stock; otherwise, par in cash
Initial price:	$54.08
Knock-in price:	$48.67, 90% of initial price
Exchange ratio:	18.491 shares, at maturity
Pricing date:	April 25
Settlement date:	April 30
Agent:	ABN Amro Inc.
Fees:	1.375%
Distribution:	Off shelf

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