Eksportfinans to price 34.05% reverse convertibles linked to Fannie Mae via Natixis

By Laura Lutz

Des Moines, Dec. 3 - Eksportfinans ASA plans to price an issue of 34.05% reverse convertible notes due March 27, 2008 linked to the common stock of Federal National Mortgage Association (Fannie Mae) 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 Fannie Mae stock stays above 60% of its initial price during the life of the notes or finishes above its initial price.

Otherwise, payout will be a number of Fannie Mae 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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