New Issue: ABN sells $1.2 million 11.5% reverse convertibles linked to ConocoPhillips

By Susanna Moon

Chicago, July 20 - ABN Amro Bank NV priced a $1.2 million issue of 11.5% annualized reverse convertible notes due Jan. 23, 2008 linked to the common stock of ConocoPhillips, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless the stock falls by more than 20% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of ConocoPhillips shares equal to $1,000 divided by the initial share price or, at the bank's option, the equivalent cash value.

ABN Amro Inc. is the agent.

Issuer:	ABN Amro Bank NV
Issue:	Reverse convertible notes
Underlying stock:	ConocoPhillips
Amount:	$1.2 million
Maturity:	Jan. 23, 2008
Coupon:	11.5%, payable monthly
Price:	Par
Payout at maturity:	If the stock falls below the barrier price during the life of the notes and finishes below the initial share price, a number of ConocoPhillips shares equal to $1,000 divided by the initial share price or the equivalent cash value; otherwise, par
Initial share price:	$87.40
Barrier price:	$69.92, 80% of initial share price
Pricing date:	July 18
Settlement date:	July 23
Agent:	ABN Amro Inc.
Fees:	1.75%

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