New Issue: Eksportfinans sells $1.01 million 13.6% reverse convertibles linked to Centene via Natixis

By Jennifer Chiou

New York, Sept. 20 - Eksportfinans ASA priced $1.01 million of 13.6% reverse convertible notes due Sept. 25, 2008 linked to Centene Corp. stock via Natixis Securities North America Inc., according to an FWP filing with the Securities and Exchange Commission.

Interest is payable quarterly.

At maturity, the notes pay par in cash if Centene stock never closes below the knock-in level of $13.592 or if it finishes at or above the initial price. Otherwise, the payout is shares of Centene stock equal to $1,000 divided by the initial price.

Issuer:	Eksportfinans ASA
Issue:	Reverse convertible notes
Underlying stock:	Centene Corp. (Symbol: CNC)
Amount:	$1.01 million
Maturity:	Sept. 25, 2008
Coupon:	13.6%, payable quarterly
Price:	Par
Payout at maturity:	Par in cash if Centene stock never closes below the knock-in level of $13.592 or if it finishes at or above the initial price; otherwise, Centene stock equal to $1,000 divided by the initial price
Initial price:	$20.91
Knock-in level:	$13.592, 65% of initial price
Pricing date:	Sept. 20
Settlement date:	Sept. 25
Underwriter:	Natixis Securities North America Inc.
Fees:	2.2%

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