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Natixis to price 13.1% reverse convertibles linked to Fluor for Eksportfinans
By Jennifer Chiou
New York, July 10 - Natixis Securities North America Inc. plans to price 13.1% annualized reverse convertible notes due Feb. 2, 2009 linked to the common stock of Fluor Corp. for issuer Eksportfinans ASA, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
Payout at maturity will be par if Fluor stock stays above 75% of its initial price during the life of the notes or finishes above its initial price.
Otherwise, payout will be a number of Fluor shares equal to $1,000 divided by the initial price.
The notes are expected to price on July 25 and settle on July 31.
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