New Issue: Natixis prices $65,000 11.3% reverse convertibles linked to Goldman Sachs for Eksportfinans

By Angela McDaniels

Seattle, Sept. 18 - Eksportfinans ASA priced $65,000 of reverse convertible notes due March 19, 2008 linked to the common stock of the Goldman Sachs Group Inc. via Natixis Securities North America Inc., according to an FWP filing with the Securities and Exchange Commission.

The six-month notes will pay 5.65% for an annualized rate of 11.3%. Interest is payable monthly.

The payout at maturity will be par unless Goldman Sachs stock falls by more than 20% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Goldman Sachs shares equal to $1,000 divided by the initial share price.

Issuer:	Eksportfinans ASA
Issue:	Reverse convertible notes
Underlying stock:	The Goldman Sachs Group Inc. (Symbol: GS)
Amount:	$65,000
Maturity:	March 19, 2008
Coupon:	11.3%, payable monthly
Price:	Par
Payout at maturity:	If Goldman Sachs shares close below the knock-in price during the life of the notes and the final share price is less than the initial share price, 5.2469 Goldman Sachs shares; otherwise, par
Initial share price:	$190.59
Knock-in price:	$152.472, 80% of initial share price
Pricing date:	Sept. 14
Settlement date:	Sept. 19
Underwriter:	Natixis Securities North America Inc.
Fees:	2.5%

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