ABN Amro to price 16% reverse exchangeables linked to Wachovia

By Angela McDaniels

Tacoma, Wash., June 23 - ABN Amro Bank NV plans to price Knock-in Reverse Exchangeable Securities due Sept. 30, 2008 linked to the common stock of Wachovia Corp., according to an FWP filing with the Securities and Exchange Commission.

The three-month notes will pay 4% for an annualized coupon of 16%. Interest will be payable monthly.

The payout at maturity will be par unless Wachovia stock falls below the knock-in level - 50% of 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 Wachovia shares equal to $1,000 divided by the initial share price.

The notes will price on June 25 and settle on June 30.

ABN Amro Inc. will be the agent.

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