New Issue: ABN Amro prices $2.75 million 30% knock-in notes linked to Elan

By Angela McDaniels

Seattle, Feb. 23 - ABN Amro Bank NV priced a $2.75 million offering of Knock-In Reverse Exchangeable Securities due May 25, 2007 linked to the American Depositary Receipts of Elan Corp., plc, according to a 424B2 filing with the Securities and Exchange Commission.

The three-month notes will pay 7.5% for an annualized rate of 30%. Interest will be payable monthly.

The payout at maturity will be par unless Elan ADRs fall below the knock-in price of $11.86 during the life of the securities and finish below the initial share price of $13.95, in which case the payout will be a number of Elan ADRs equal to $1,000 divided by the initial share price.

Issuer:	ABN Amro Bank NV
Issue:	Knock-In Reverse Exchangeable Securities
Underlying stock:	Elan Corp., plc
Amount:	$2.75 million
Maturity:	May 25, 2007
Coupon:	30%, payable monthly
Price:	Par
Payout at maturity:	Par if Elan ADRs remain at or above the knock-in price during the life of the securities or finish at or above the initial share price; otherwise, 71.68459 Elan ADRs
Initial share price:	$13.95
Knock-in price:	$11.86, 85% of initial share price
Pricing date:	Feb. 21
Settlement date:	Feb. 26
Agent:	ABN Amro Inc.
Agent fees:	1.625%

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