New Issue: Natixis sells $945,000 41.1% reverse convertibles linked to Force Protection for Eksportfinans

By Susanna Moon

Chicago, Oct. 2 - Eksportfinans ASA priced $945,000 of 41.1% reverse convertible notes due Jan. 3, 2008 linked to the common stock of Force Protection Inc. via Natixis Securities North America Inc., according to an FWP filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless the stock falls by more than 25% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Force Protection shares equal to $1,000 divided by the initial share price.

Issuer:	Eksportfinans ASA
Issue:	Reverse convertible notes
Underlying stock:	Force Protection Inc. (Nasdaq: FRPT)
Amount:	$945,000
Maturity:	Jan. 3, 2008
Coupon:	41.1%, payable monthly
Price:	Par
Payout at maturity:	If the stock closes below the knock-in price during the life of the notes and the final share price is less than the initial share price, 46.1681 Force Protection shares; otherwise, par
Initial share price:	$21.66
Knock-in price:	$16.245, or 75% of initial share price
Pricing date:	Sept. 28
Settlement date:	Oct. 3
Agent:	Natixis Securities North America Inc.
Fees:	2.25%

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