New Issue: Natixis sells $50,000 10.75% reverse convertibles linked to Intel for Eksportfinans

By E. Janene Geiss

Philadelphia, Jan. 29 - Eksportfinans ASA priced $50,000 of 10.75% reverse convertible notes due Feb. 2, 2009 linked to the common stock of Intel Corp. via Natixis Securities North America Inc., according to a 424B3 filing with the Securities and Exchange Commission.

Interest is payable monthly.

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

Issuer:	Eksportfinans ASA
Issue:	Reverse convertible notes
Underlying stock:	Intel Corp. (Symbol: INTC)
Amount:	$50,000
Maturity:	Feb. 2, 2009
Coupon:	10.75%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Intel stock falls by more than 80% during the life of the notes - a knock-in event - and the stock finishes below the initial price, in which case the payout will be a number of Intel shares equal to $1,000 divided by the initial share price
Initial share price:	$20.00
Knock-in price:	$16.00, 80% of initial share price
Pricing date:	Jan. 25
Settlement date:	Jan. 31
Underwriter:	Natixis Securities North America Inc.
Fees:	2.75%

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