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Eksportfinans to price 32% reverse convertibles linked to First Solar
By Susanna Moon
Chicago, Sept. 14 - Eksportfinans ASA plans to price an issue of 32% reverse convertible notes due Jan. 3, 2008 linked to First Solar, Inc. common stock, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par unless the stock falls below the knock-in price - 75% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of First Solar shares equal to $1,000 divided by the initial share price.
The notes will price on Sept. 28 and settle on Oct. 3.
Natixis Securities North America Inc. will be the agent.
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