New Issue: ABN Amro sells $825,000 13% reverse exchangeables linked to GM

By Laura Lutz

Des Moines, Nov. 22 - ABN Amro Bank NV priced $825,000 of 13% reverse convertible notes due Nov. 26, 2007 linked to General Motors Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payment at maturity will be determined according to the performance of General Motors stock. If the stock trades at or below $23.93, the knock-in price, and closes below $34.18, the initial price, between Nov. 20, 2006 and Nov. 21, 2007, investors will receive a number of General Motors shares equal to $1,000 divided by the initial stock price. The knock-in price is 70% of the initial price. Otherwise, investors will receive par in cash.

Issuer:	ABN Amro Bank NV
Issue:	Reverse convertible notes
Underlying stock:	General Motors Corp.
Amount:	$825,000
Maturity:	Nov. 26, 2007
Coupon:	13%, payable quarterly
Price:	Par
Payout at maturity:	If General Motors stock closes below the knock-in price during the life of the notes and finishes below the initial price, 29.257 shares of General Motors stock; otherwise par in cash
Initial price:	$34.18
Knock-in price:	$23.93, 70% of initial price
Exchange ratio:	29.257
Pricing date:	Nov. 20
Settlement date:	Nov. 24
Agent:	ABN Amro Inc.
Agent fee:	2%
Distribution:	Off shelf

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