New Issue: ABN sells $1.775 million 16% knock-in notes linked to Elan

By E. Janene Geiss

Philadelphia, April 27 - ABN Amro Bank NV priced $1.775 million of 16% Knock-in Reverse Exchangeable Securities due April 30, 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 falls below $10.06, the knock-in price, during the life of the notes and finishes below $14.37, the initial price, investors will receive a number of Elan shares equal to $1,000 divided by the initial price. The knock-in price is 70% of the initial price.

Otherwise, investors will receive par in cash.

ABM Amro Inc. is the agent.

Issuer:	ABN Amro Bank NV
Issue:	Knock-in Reverse Exchangeable Securities
Underlying stock:	Elan Corp. plc
Amount:	$1.775 million
Maturity:	April 30, 2008
Coupon:	16% annualized, payable monthly
Price:	Par
Payout at maturity:	If Elan stock closes below the knock-in price of $10.06 during the life of the notes and finishes below the initial price, 69.589 shares of Elan stock; otherwise, par in cash
Initial price:	$14.37
Knock-in price:	$10.06, 70% of initial price
Exchange ratio:	69.589 shares, at maturity
Pricing date:	April 25
Settlement date:	April 30
Agent:	ABN Amro Inc.
Agent fees:	2.5%

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