Natixis plans 22.4% reverse convertibles linked to First Solar for Eksportfinans

By Susanna Moon

Chicago, Sept. 9 - Eksportfinans ASA plans to price 22.4% annualized reverse convertible notes due Dec. 30, 2008 linked to the common stock of First Solar, Inc. via Natixis Securities North America Inc., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

If First Solar stock falls below the knock-in price - 70% of the initial share price - during the life of the notes and finishes below the initial price, the payout at maturity will be a number of First Solar shares equal to par divided by the initial share price.

Otherwise, the payout will be par.

The notes are expected to price on Sept. 25 and settle on Sept. 30.

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