New Issue: Natixis prices $50,000 of 13.05% reverse convertibles linked to Focus Media for Eksportfinans

By Laura Lutz

Des Moines, July 26 - Eksportfinans ASA plans to price a $50,000 issue of 13.05% reverse convertible notes due Jan. 30, 2008 linked to the common stock of Focus Media Holding Ltd., according to a 424B3 filing with the Securities and Exchange Commission.

Natixis Securities North America Inc. will be the underwriter.

At maturity, investors will receive par unless Focus Media stock falls below the knock-in price, 75% of the initial price of $41.54, during the life of the notes and finishes at or above the initial price. Otherwise, the payout will be in Focus Media stock, with the number of share equal to $1,000 divided by the initial share price.

Issuer:	Eksportfinans ASA
Issue:	Reverse convertible notes
Amount:	$50,000
Underlying stock:	Focus Media Holding Ltd.
Maturity:	Jan. 30, 2008
Coupon:	13.05%
Price:	Par
Payout at maturity:	Par in cash if Focus Media stock stays at or above the knock-in price of $31.155 and finishes at or above the initial price; otherwise, shares of Focus Media stock equal to $1,000 divided by the initial price
Initial price:	$41.54
Knock-in price:	$31.155, 75% of $41.54
Pricing date:	July 24
Settlement date:	July 27
Agent:	Natixis Securities North America Inc.
Fees:	2.25%

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