By Jennifer Chiou
New York, July 28 - Eksportfinans ASA priced $0.369 million of 12% reverse convertible securities due July 31, 2007 linked to Urban Outfitters, Inc. stock, according to a 424B3 filing with the Securities and Exchange Commission.
If the share price does not fall below the knock-in level of $10.38 during the life of the notes, the payout will be par.
If the share price falls below the knock-in level during the life of the notes and ends below its initial price, the payout at maturity will be 67.4309 shares of Urban Outfitters stock per $1,000 principal amount.
If the share price falls below the knock-in level during the life of the note and ends at or above its initial price, the payout at maturity will be par.
| Issuer: | Eksportfinans ASA
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| Issue: | Reverse convertible securities
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| Underlying stock: | Urban Outfitters, Inc.
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| Amount: | $0.369 million
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| Maturity: | July 31, 2007
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| Coupon: | 12%, payable monthly
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| Price: | Par
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| Payout at maturity: | 67.4309 shares of Urban Outfitters stock if the share price falls below the knock-in level of $10.38 during the life of the note and ends below its initial price; otherwise par
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| Initial share price: | $14.83
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| Barrier level: | $10.38, 70% of initial share price
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| Pricing date: | July 26
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| Settlement date: | July 31
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| Issuer ratings: | Moody's: Aaa
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| Standard & Poor's: AA+
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| Fitch: AAA
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| Manager: | Deutsche Bank AG
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