New Issue: ABN Amro sells $1.525 million 12% knock-in reverse notes linked to Las Vegas Sands

By Laura Lutz

Des Moines, June 28 - ABN Amro Bank NV priced $1.525 million of 12% Knock-in Reverse Exchangeable Securities due June 30, 2008 linked to Las Vegas Sands Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payment at maturity will be determined according to the performance of Las Vegas Sands stock. If the stock trades at or below $58.424, the knock-in price, and closes below $73.03, the initial price, during the life of the notes, investors will receive a number of Las Vegas Sands 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 Securities
Underlying stock:	Las Vegas Sands Corp.
Amount:	$1.525 million
Maturity:	June 30, 2008
Coupon:	12%, payable monthly
Price:	Par
Payout at maturity:	If Las Vegas Sands stock closes below the knock-in price during the life of the notes and finishes below the initial price, 13.693 shares of Las Vegas Sands stock; otherwise, par in cash
Initial price:	$73.03
Knock-in price:	$58.424, 80% of initial price
Exchange ratio:	13.693 shares, at maturity
Pricing date:	June 26
Settlement date:	June 29
Agent:	ABN Amro Inc.
Fees:	2.5%
Distribution:	Off shelf

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