New Issue: Eksportfinans sells $1.4 million 38.65% reverse convertibles linked to Force Protection via Natixis

By Laura Lutz

Des Moines, Aug. 28 - Eksportfinans ASA priced a $1.4 million issue of 38.65% reverse convertible notes due Nov. 29, 2007 linked to the common stock of Force Protection, Inc., according to a 424B3 filing with the Securities and Exchange Commission.

Natixis Securities North America Inc. will be the underwriter.

Interest will be payable monthly.

At maturity, investors will receive par unless Force Protection stock falls below the knock-in price, 65% of the initial price of $17.30, during the life of the notes and finishes at or above the initial price. Otherwise, the payout will be in Force Protection stock, with the number of shares equal to $1,000 divided by the initial share price.

Issuer:	Eksportfinans ASA
Issue:	Reverse convertible notes
Amount:	$1,401,000
Underlying stock:	Force Protection, Inc. (Nasdaq: FRPT)
Maturity:	Nov. 29, 2007
Coupon:	38.65%, payable monthly
Price:	Par
Payout at maturity:	Par in cash if Force Protection stock stays at or above the knock-in price of $11.245 and finishes at or above the initial price; otherwise, shares of Force Protection stock equal to $1,000 divided by the initial price
Initial price:	$17.30
Knock-in price:	$11.245, 65% of $17.30
Pricing date:	Aug. 24
Settlement date:	Aug. 29
Agent:	Natixis Securities North America Inc.
Fees:	2.25%

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.