By Jennifer Chiou
New York, Feb. 5 - Eksportfinans ASA priced $300,000 of 14% annualized auto callable reverse convertible notes due Aug. 11, 2009 linked to the common stock of ConocoPhillips, according to a 424B3 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be automatically called at par if ConocoPhillips stock closes above the initial share price on May 4, 2009.
The payout at maturity will be par unless the closing price of ConocoPhillips stock on Aug. 4, 2009 is less than 70% of the initial share price, in which case the payout will be a number of ConocoPhillips shares equal to $1,000 divided by the initial share price or, at Eksportfinans's option, the equivalent amount in cash.
Barclays Capital Inc. is the agent.
| Issuer: | Eksportfinans ASA
|
| Issue: | Auto callable reverse convertible notes
|
| Underlying stock: | ConocoPhillips (NYSE: COP)
|
| Amount: | $300,000
|
| Maturity: | Aug. 11, 2009
|
| Coupon: | 14%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If final share price has declined from initial share price by more than the 30% protection amount, 21.82 ConocoPhillips shares or equivalent in cash; otherwise, par
|
| Call: | Automatically at par if ConocoPhillips stock closes above initial share price on May 4, 2009
|
| Initial share price: $45.83
|
| Knock-in price: | $32.08, 70% of initial price
|
| Pricing date: | Feb. 4
|
| Settlement date: | Feb. 11
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 1.75%
|
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