New Issue: ABN Amro sells $1 million 17.25% Knock-in Reverse Exchangeables linked to Elan

By Laura Lutz

Des Moines, March 27 - ABN Amro Bank NV priced $1 million of 17.25% Knock-in Reverse Exchangeable notes due March 28, 2008 linked to Elan Corp., plc stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payment at maturity will be determined according to the performance of Elan stock. If the stock trades at or below $10.736, the knock-in price, and closes below $13.42, the initial price, during the life of the notes, investors will receive a number of Elan shares equal to $1,000 divided by the initial stock price. The knock-in price is 80% of the initial price.

Otherwise, investors will receive par in cash.

ABN Amro Inc. is agent.

Issuer:	ABN Amro Bank NV
Issue:	Knock-in Reverse Exchangeable notes
Underlying stock:	Elan Corp., plc
Amount:	$1 million
Maturity:	March 28, 2008
Coupon:	17.25%, payable monthly
Price:	Par
Payout at maturity:	If Elan stock closes below the knock-in price during the life of the notes and finishes below the initial price, 74.516 shares of Elan stock; otherwise, par in cash
Initial price:	$13.42
Knock-in price:	$10.736, 80% of initial price
Exchange ratio:	74.516 shares, at maturity
Pricing date:	March 23
Settlement date:	March 28
Agent:	ABN Amro Inc.
Fees:	2.75%
Distribution:	Off shelf

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