New Issue: ABN Amro sells $1 million 40% knock-in notes linked to Friedman, Billings, Ramsey

By Jennifer Chiou

New York, March 27 - ABN Amro Bank NV priced a $1 million offering of 40% annualized Knock-in Reverse Exchangeable Securities due June 29, 2007 linked to the class A common stock of Friedman, Billings, Ramsey Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable at maturity.

The payout at maturity will be par unless Friedman, Billings, Ramsey stock falls below the knock-in level - 75% of the initial share price - during the life of the securities and finishes below the initial share price, in which case the payout will be a number of Friedman, Billings, Ramsey shares equal to $1,000 divided by the initial share price.

ABN Amro is the agent.

Issuer:	ABN Amro Bank NV
Issue:	Knock-in Reverse Exchangeable Securities
Underlying stock:	Friedman, Billings, Ramsey Group, Inc. class A shares
Amount:	$1 million
Maturity:	June 29, 2007
Coupon:	40% annualized, payable at maturity
Price:	Par
Payout at maturity:	Par if Friedman, Billings, Ramsey stock remains at or above the knock-in price during the life of the securities or finishes at or above the initial share price; otherwise, 170.068 Friedman, Billings, Ramsey shares
Initial share price:	$5.88
Knock-in price:	$4.41, 75% of initial share price
Pricing date:	March 22
Settlement date:	March 29
Agent:	ABN Amro, Inc.
Fees:	1.5%

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