New Issue: ABN Amro prices $1 million 13.3% reverse exchangeables linked to Apple

By E. Janene Geiss

Philadelphia, May 16 - ABN Amro Bank NV priced $1 million of 13.3% annualized Knock-in Reverse Exchangeable Securities due Nov. 20, 2008 linked to the common stock of Apple Inc., according to an FWP filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless Apple stock falls by more than 30% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Apple shares equal to $1,000 divided by the initial share price.

ABN Amro Inc. is the lead agent.

Issuer:	ABN Amro Bank NV
Issue:	Knock-in Reverse Exchangeable Securities
Underlying stock:	Apple Inc. (Symbol: AAPL)
Amount:	$1 million
Maturity:	Nov. 20, 2008
Coupon:	13.3%, payable monthly
Price:	Par
Payout at maturity:	If Apple stock falls below the knock-in level during the life of the notes and the final share price is less than the initial share price, 5.271 Apple shares; otherwise, par
Initial share price:	$189.73
Knock-in price:	$132.81, 70% of initial share price
Pricing date:	May 15
Settlement date:	May 20
Agent:	ABN Amro Inc.

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