ABN Amro plans issue of 17% Knock-In Reverse Exchangeables linked to Sirius

By Angela McDaniels

Seattle, March 28 - ABN Amro Bank NV plans to price an issue of 17% (annualized) Knock-In Reverse Exchangeable notes due Jan. 12, 2007 linked to Sirius Satellite Radio Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

The nine-month notes will pay 12.75% interest, which is equivalent to an annualized interest rate of 17%. Interest will be payable quarterly.

The proposed pricing date is April 7.

Payment at maturity will be based on the performance of Sirius stock:

• If the stock trades at or below the knock-in price and closes below the initial price, investors will receive a number of Sirius shares equal to $1,000 divided by the initial stock price. The knock-in price will be 70% of the initial price;

• Otherwise the payout is par in cash.

LaSalle Financial Services Inc. and ABN Amro Inc. will be agents for the offering.

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