New Issue: ABN sells $500,000 9.25% reverse convertibles linked to Exelon

By E. Janene Geiss

Philadelphia, July 27 - ABN Amro Bank NV priced a $500,000 issue of 9.25% annualized reverse convertible notes due July 30, 2008 linked to the common stock of Exelon Corp., 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 15% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Exelon shares equal to $1,000 divided by the initial share price or, at the bank's option, the equivalent cash value.

LaSalle Financial Services is the agent.

Issuer:	ABN Amro Bank NV
Issue:	Reverse convertible notes
Underlying stock:	Exelon Corp. (NYSE: EXC)
Amount:	$500,000
Maturity:	July 30, 2008
Coupon:	9.25%, 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 Exelon shares equal to $1,000 divided by the initial share price or the equivalent cash value; otherwise, par
Initial share price:	$74.44
Barrier price:	$63.274, 85% of initial share price
Exchange ratio:	13.434
Pricing date:	July 25
Settlement date:	July 30
Agent:	LaSalle Financial Services
Fees:	3%

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