New Issue: ABN Amro sells $600,000 23.4% Knock-in Reverse Exchangeables linked to Garmin

By Jennifer Chiou

New York, Jan. 24 - ABN Amro Bank NV priced $600,000 of 23.4% annualized Knock-in Reverse Exchangeable Securities S-Notes due April 28, 2008 linked to the common shares of Garmin Ltd., according to an FWP filing with the Securities and Exchange Commission.

If Garmin shares fall below the knock-in price - 60% of the initial share price - during the life of the notes and close below the initial share price, investors will receive a number of shares equal to $1,000 divided by the initial share price.

Otherwise, the payout will be par.

ABN Amro Inc. is the agent.

Issuer:	ABN Amro Bank NV
Issue:	Knock-in Reverse Exchangeable Securities S-Notes
Underlying stock:	Garmin Ltd. (Nasdaq: GRMN)
Amount:	$600,000
Maturity:	April 28, 2008
Coupon:	23.4% annualized, payable monthly
Price:	Par
Payout at maturity:	If Garmin shares fall below the knock-in price during the life of the notes and finish below the initial share price, a number of shares equal to $1,000 divided by the initial share price; otherwise, par
Initial share price:	$64.60
Knock-in price:	$38.76, 60% of initial share price
Exchange ratio:	15.48 shares, at maturity
Pricing date:	Jan. 23
Settlement date:	Jan. 28
Agent:	ABN Amro Inc.

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