ABN plans 20% Knock-in Reverse Exchangeables linked to W.R. Grace

By Jennifer Chiou

New York, May 3 - ABN Amro Bank NV plans to price 20% annualized Knock-in Reverse Exchangeable Securities due Aug. 31, 2007 linked to W.R. Grace & Co. stock, according to a term sheet from FIS.

Payment at maturity will be determined according to the performance of W.R. Grace stock. If the stock trades at or below the knock-in price and closes below the initial stock price during the life of the notes, investors will receive a number of W.R. Grace shares equal to $1,000 divided by the initial stock price. The knock-in price will be 80% of the initial stock price.

Otherwise, investors will receive par in cash.

The notes will price on May 24 and settle on May 31.

ABN Amro Inc. will be the agent. AAM will be the distributor.

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