New Issue: ABN Amro prices $0.45 million 10.5% reverse convertibles linked to Cummins

New York, June 2 - ABN Amro Bank NV priced $0.45 million of 10.5% Knock-In Reverse Exchangeable notes due Aug. 29, 2008 linked to Cummins Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless Cummins shares fall below the protection price of $50.66, 75% of the initial price of $67.55, during the life of the notes and finishes below the initial price in which case the payout will be 14.804 shares of Cummins stock.

ABN Amro Inc. is the agent.

Issuer:	ABN Amro Bank NV
Issue:	Knock-In Reverse Exchangeable notes
Underlying stock:	Cummins Inc. (Symbol: CMI)
Amount:	$0.45 million
Maturity:	Aug. 29, 2008
Coupon:	10.5%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Cummins stock falls below the protection price of $50.66, 75% of the initial price, and finishes below the initial price, in which case 14.804 shares of Cummins stock
Initial price:	$67.55
Protection price:	$50.66, 75% of $67.55
Exchange ratio:	14.804
Pricing date:	May 27
Settlement date:	May 30
Agent:	ABN Amro Inc.
Fees:	1.375%

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