New Issue: ABN Amro sells $700,000 10% Knock-in Reverse Exchangeables linked to AT&T

By Jennifer Chiou

New York, Sept. 26 - ABN Amro Bank NV priced $700,000 of 10% Knock-in Reverse Exchangeable Securities due Sept. 26, 2008 linked to the common shares of AT&T Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Payment at maturity will be determined according to the performance of AT&T stock. If AT&T shares close below $33.816, the knock-in price, during the life of the notes and the final share price is less than the initial share price of $42.27, investors will receive a number of AT&T shares equal to $1,000 divided by the initial share price. The knock-in price is 80% of the initial share price.

Otherwise, investors will receive par in cash.

LaSalle Financial Services is the agent.

Issuer:	ABN Amro Bank NV
Issue:	Knock-in Reverse Exchangeable Securities
Underlying stock:	AT&T Inc. (Symbol: T)
Amount:	$700,000
Maturity:	Sept. 26, 2008
Coupon:	10%, payable monthly
Price:	Par
Payout at maturity:	If AT&T shares fall below the knock-in price during the life of the notes and finish below the initial share price, a number of AT&T shares equal to $1,000 divided by the initial share price; otherwise, par in cash
Initial share price:	$42.27
Knock-in price:	$33.816, 80% of initial share price
Exchange ratio:	23.657 shares, at maturity
Pricing date:	Sept. 24
Settlement date:	Sept. 27
Agent:	LaSalle Financial Services
Fees:	3%
Distribution:	Off shelf

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