New Issue: ABN Amro sells $3 million of 19.25% knock-in reverse exchangeables linked to GMX

By Laura Lutz

Des Moines, July 9 - ABN Amro Bank NV priced $3 million of 19.25% knock-in reverse exchangeable notes due Oct. 9, 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 stock. If the stock trades at or below $27.68, the knock-in price, and closes below $34.60, the initial price, during the life of the notes, investors will receive a number of GMX 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.

ABN Amro Inc. is the underwriter

Issuer:	ABN Amro Bank NV
Issue:	Knock-in reverse exchangeable notes
Underlying stock:	GMX Resources Inc.
Amount:	$3 million
Maturity:	Oct. 9, 2007
Coupon:	19.25%, payable monthly
Price:	Par
Payout at maturity:	If GMX stock closes below the knock-in price during the life of the notes and finishes below the initial price, 28.902 shares of GMX stock; otherwise, par in cash
Initial price:	$34.60
Knock-in price:	$27.68, 80% of initial price
Exchange ratio:	28.902 shares, at maturity
Pricing date:	June 29
Settlement date:	July 9
Agent:	ABN Amro Inc.
Fees:	1.375%
Distribution:	Off shelf

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