New Issue: ABN Amro prices $0.35 million 11.5% reverse convertibles linked to Owens Corning

New York, June 27 - ABN Amro Bank NV priced $0.35 million of 11.5% Knock-In Reverse Exchangeable notes due Dec. 31, 2008 linked to Owens Corning shares, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless Owens Corning shares fall below the protection price of $18.92, 80% of the initial price of $23.65, during the life of the notes and finish below the initial price in which case the payout will be 42.283 shares of Owens Corning stock.

ABN Amro Inc. is the agent.

Issuer:	ABN Amro Bank NV
Issue:	Knock-In Reverse Exchangeable notes
Underlying stock:	Owens Corning (Symbol: OC)
Amount:	$0.35 million
Maturity:	Dec. 31, 2008
Coupon:	11.5%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Owens Corning shares fall below the protection price of $18.92, 80% of the initial price, and finish below the initial price, in which case 42.283 shares of Owens Corning stock
Initial price:	$23.65
Protection price:	$18.92, 80% of $23.65
Exchange ratio:	42.283
Pricing date:	June 25
Settlement date:	June 30
Agent:	ABN Amro Inc.
Fees:	1.75%

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