New Issue: ABN Amro sells $2.1 million 23% Knock-in Reverse Exchangeables linked to GMX Resources

By Laura Lutz

Des Moines, April 2 - ABN Amro Bank NV priced $2.1 million of 23% Knock-in Reverse Exchangeable Securities due July 2, 2007 linked to GMX Resources Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payment at maturity will be determined according to the performance of GMX Resources stock. If the stock trades at or below $24.98, the knock-in price, and closes below $31.22, the initial price, during the life of the notes, investors will receive a number of GMX Resources shares equal to $1,000 divided by the initial stock price. The knock-in price is 80% of the initial price.

Otherwise, investors will receive par in cash.

Issuer:	ABN Amro Bank NV
Issue:	Knock-in Reverse Exchangeable Securities
Underlying stock:	GMX Resources Inc.
Amount:	$2.1 million
Maturity:	July 2, 2007
Coupon:	23%, payable monthly
Price:	Par
Payout at maturity:	If GMX Resources stock closes below the knock-in price during the life of the notes and finishes below the initial price, 32.031 shares of GMX Resources stock; otherwise, par in cash
Initial price:	$31.22
Knock-in price:	$24.98, 80% of initial price
Exchange ratio:	32.031 shares, at maturity
Pricing date:	March 28
Settlement date:	April 2
Agent:	ABN Amro Inc.
Fees:	1.5%
Distribution:	Off shelf

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