New Issue: ABN Amro prices $4 million 15% reverse convertibles linked to Champion Enterprises

New York, May 22 - ABN Amro Bank NV priced $4 million of 15% Knock-In Reverse Exchangeable notes due May 22, 2009 linked to Champion Enterprises, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless Champion Enterprises stock falls below the protection price of $4.80, 55% of the initial price of $8.73, during the life of the notes and finishes below the initial price in which case the payout will be 114.548 shares of Champion Enterprises stock.

ABN Amro Inc. is the agent.

Issuer:	ABN Amro Bank NV
Issue:	Knock-In Reverse Exchangeable notes
Underlying stock:	Champion Enterprises, Inc. (Symbol: CHB)
Amount:	$4 million
Maturity:	May 22, 2009
Coupon:	15%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Champion Enterprises stock falls below the protection price of $4.80, 55% of the initial price, and finishes below the initial price, in which case 114.548 shares of Champion Enterprises stock
Initial price:	$8.73
Protection price:	$4.80, 55% of $8.73
Exchange ratio:	114.548
Pricing date:	May 20
Settlement date:	May 23
Agent:	ABN Amro Inc.
Fees:	4%

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