New Issue: ABN prices $1.247 million 12.1% Knock-in Reverse Exchangeables linked to Valero Energy

By Jennifer Chiou

New York, June 6 - ABN Amro Bank NV priced a $1.247 million issue of 12.1% medium-term notes due June 6, 2007 in the Knock-in Reverse Exchangeable Securities structure. The notes are linked to Valero Energy Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Issuer:	ABN Amro Bank NV
Issue:	Knock-in Reverse Exchangeable senior medium-term series A notes
Underlying stock:	Valero Energy Corp.
Amount:	$1.247 million
Maturity:	June 6, 2007
Coupon:	12.1%, payable quarterly
Price:	Par
Payout at maturity:	If Valero Energy stock closes below the knock-in price during the life of the notes and finishes below the initial price, 16.26 shares of Valero Energy stock; otherwise par in cash
Initial stock price:	$61.50
Knock-in price:	$43.50, 70% of initial price
Exchange ratio:	16.26 shares, at maturity
Pricing date:	June 1
Settlement date:	June 6
Agents:	LaSalle Financial Services Inc., ABN Amro Inc.
Distribution:	Off shelf

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