New Issue: ABN Amro sells $1.075 million 12% Knock-in Reverse Exchangeables linked to Schlumberger

By Laura Lutz

Des Moines, April 27 - ABN Amro Bank NV priced $1.075 million of 12% Knock-in Reverse Exchangeable Securities due July 31, 2007 linked to Schlumberger NV stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payment at maturity will be determined according to the performance of Schlumberger stock. If the stock trades at or below $68.28, the knock-in price, and closes below $75.87, the initial price, during the life of the notes, investors will receive a number of Schlumberger shares equal to $1,000 divided by the initial stock price. The knock-in price is 90% of the initial price.

Otherwise, investors will receive par in cash.

Issuer:	ABN Amro Bank NV
Issue:	Knock-in Reverse Exchangeable Securities
Underlying stock:	Schlumberger NV
Amount:	$1.075 million
Maturity:	July 31, 2007
Coupon:	12%, payable monthly
Price:	Par
Payout at maturity:	If Schlumberger stock closes below the knock-in price during the life of the notes and finishes below the initial price, 13.18 shares of Schlumberger stock; otherwise, par in cash
Initial price:	$75.87
Knock-in price:	$68.28, 90% of initial price
Exchange ratio:	13.18 shares, at maturity
Pricing date:	April 25
Settlement date:	April 30
Agent:	ABN Amro Inc.
Fees:	1.375%
Distribution:	Off shelf

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