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IXIS to price 8% notes linked to Caterpillar for Eksportfinans via JVB
By Angela McDaniels
Seattle, Oct. 20 - Eksportfinans ASA plans to issue 8% one-year reverse convertible securities linked to the common stock of Caterpillar, Inc. via IXIS Securities North America Inc., according to a 424B3 filing with the Securities and Exchange Commission. JVB Financial Group, LLC is distributor.
Interest will be payable monthly.
The securities will price on Oct. 20 and settle on Nov. 2. They will be offered until Oct. 27 or until the issue hits $5 million.
The payout at maturity will be par unless Caterpillar stock falls below the knock-in level - 80% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Caterpillar shares equal to $1,000 divided by the initial share price.
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