Natixis to price 19.7% reverse convertibles linked to First Solar for Eksportfinans

By Angela McDaniels

Tacoma, Wash., June 4 - Eksportfinans ASA plans to price reverse convertible notes due Sept. 30, 2008 linked to the common stock of First Solar, Inc. via underwriter Natixis Securities North America Inc., according to an FWP filing with the Securities and Exchange Commission.

The three-month notes will pay 4.925% for an annualized coupon of 19.7%. Interest will be payable monthly.

The payout at maturity will be par unless First Solar stock falls below the knock-in level - 70% of the initial share price - during the life of the notes and finishes below the initial share price, in which case investors will receive a number of First Solar shares equal to $1,000 divided by the initial share price.

The notes will price on June 25 and settle on June 30.

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