New Issue: Natixis prices $340,000 22% knock-in notes linked to Ford, GM for Eksportfinans

By Angela McDaniels

Seattle, April 27 - Natixis Securities North America Inc. priced a $340,000 issue of knock-in reverse convertible securities due Oct. 30, 2007 linked to Ford Motor Co. and General Motors Corp. for issuer Eksportfinans ASA, according to a 424B2 filing with the Securities and Exchange Commission.

The six-month notes will pay 11% for an annualized rate of 22%. Interest is payable monthly.

The payout at maturity will be par unless either stock falls below its knock-in price - 80% of the initial share price - during the life of the notes and either stock finishes below its initial share price, in which case the payout will be a number of shares of the worst-performing stock equal to $1,000 divided by its initial share price.

Issuer:	Eksportfinans ASA
Issue:	Knock-in reverse convertible securities
Underlying stocks:	Ford Motor Co., General Motors Corp.
Amount:	$340,000
Maturity:	Oct. 30, 2007
Coupon:	22%, payable monthly
Price:	Par
Payout at maturity:	If either stock falls below its knock-in price during the life of the notes and either stock finishes below its initial share price, a number of shares of the worst-performing stock equal to the exchange ratio; otherwise, par
Initial share prices:	$7.88 for Ford, $31.07 for GM
Knock-in prices:	$6.304 for Ford, $24.856 for GM; 80% of initial share price
Exchange ratios:	126.9036 for Ford, 32.1854 for GM
Pricing date:	April 25
Settlement date:	April 30
Agent:	Natixis Securities North America Inc.
Agent fees:	2.5%

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