New Issue: ABN Amro prices $2.42 million 19.75% reverse convertibles linked to DryShips

By Angela McDaniels

Tacoma, Wash., Oct. 8 - ABN Amro Bank NV priced $2.42 million of Knock-In Reverse Exchangeable Securities due April 9, 2010 linked to the common stock of DryShips Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The six-month notes will pay 9.875% for an annualized coupon of 19.75%. Interest is payable monthly.

The payout at maturity will be par in cash unless DryShips shares fall by more than 40% during the life of the notes and finish below the initial price, in which case the payout will be a number of DryShips shares equal to $1,000 divided by the initial share price.

RBS Securities Inc. is the agent.

Issuer:	ABN Amro Bank NV
Issue:	Knock-In Reverse Exchangeable notes
Underlying stock:	DryShips Inc. (Symbol: DRYS)
Amount:	$2,419,000
Maturity:	April 9, 2010
Coupon:	19.75%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless DryShips shares fall below protection price during life of notes and finish below initial price, in which case 151.745 shares of DryShips stock
Initial price:	$6.59
Protection price:	$3.95, 60% of initial price
Pricing date:	Oct. 6
Settlement date:	Oct. 9
Agent:	RBS Securities Inc.
Fees:	6.25%

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