New Issue: ABN Amro sells $666,000 22.75% Knock-in Reverse Exchangeables linked to U.S. Steel

By E. Janene Geiss

Philadelphia, Aug. 28 - ABN Amro Bank NV priced $666,000 of 22.75% annualized Knock-in Reverse Exchangeable notes due Nov. 30, 2009 linked to the common stock of United States Steel Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly.

Investors will receive par unless U.S. Steel stock falls 25% compared to the initial share price during the life of the notes and finishes below the initial share price, in which case the payout will be a number of U.S. Steel shares equal to $1,000 divided by the initial share price.

ABN Amro Inc. is the agent.

Issuer:	ABN Amro Bank NV
Issue:	Knock-in Reverse Exchangeable Securities
Underlying stock:	United States Steel Corp. (NYSE: X)
Amount:	$666,000
Maturity:	Nov. 30, 2009
Coupon:	22.75%, payable monthly
Price:	Par
Payout at maturity:	Par unless the stock price dips below the knock-in price of $32.43 during the life of the notes and finish below the initial price, in which case 23.127 shares
Initial share price:	$43.24
Knock-in price:	$32.43, 75% of initial price
Pricing date:	Aug. 26
Settlement date:	Aug. 31
Agent:	ABN Amro Inc.
Fees:	2.25%

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