Natixis to price 19.4% reverse convertibles linked to Freeport-McMoRan for Eksportfinans

By Laura Lutz

Des Moines, Dec. 3 - Eksportfinans ASA plans to price an issue of 19.4% reverse convertible notes due June 27, 2008 linked to the common stock of Freeport-McMoRan Copper & Gold Inc. via Natixis Securities North America Inc., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

Payout at maturity will be par if Freeport-McMoRan stock stays above 70% of its initial price during the life of the notes or finishes above its initial price.

Otherwise, payout will be a number of Freeport-McMoRan shares equal to par divided by the initial price.

The notes are expected to price on Dec. 21 and settle on Dec. 27.

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