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IXIS to price 16% notes linked to Latin American large caps for Eksportfinans
By Angela McDaniels
Seattle, March 6 - Eksportfinans ASA plans to price an offering of reverse convertible notes due Sept. 28, 2007 linked to a basket of Latin American large cap stocks via agent IXIS Securities North America Inc., according to an FWP filing with the Securities and Exchange Commission.
The basket will include the common stocks of Companhia Vale do Rio Doce, Petroleo Brasileiro SA - Petrobras and Banco Bradesco SA.
The six-month notes will pay 8% for an annualized rate of 16%. Interest will be payable monthly.
The payout at maturity will be par unless any of the stocks falls by more than 20% during the life of the notes and any of the stocks finishes below its initial share price, in which case the payout will be a number of the worst-performing stock equal to $1,000 divided by its initial share price.
The notes will price on March 23 and settle on March 28.
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