New Issue: Eksportfinans prices $1.2 million 13% reverse convertibles linked to Forest Labs via Natixis

By Laura Lutz

Des Moines, Aug. 27 - Eksportfinans ASA priced a $1.2 million issue of 13% reverse convertible notes due Feb. 29, 2008 linked to the common stock of Forest Laboratories, Inc., according to an FWP filing with the Securities and Exchange Commission.

Natixis Securities North America Inc. was the underwriter.

Interest will be payable quarterly.

At maturity, investors will receive par unless Forest Labs stock falls below the knock-in price, 70% of the initial price of $37.83, during the life of the notes and finishes at or above the initial price. Otherwise, the payout will be in Forest Labs stock, with the number of shares equal to $1,000 divided by the initial share price.

Issuer:	Eksportfinans ASA
Issue:	Reverse convertible notes
Amount:	$1.2 million
Underlying stock:	Forest Laboratories, Inc. (NYSE: FRX)
Maturity:	Feb. 29, 2008
Coupon:	13%, payable quarterly
Price:	Par
Payout at maturity:	Par in cash if Forest Labs stock stays at or above the knock-in price of $26.481 and finishes at or above the initial price; otherwise, shares of Forest Labs stock equal to $1,000 divided by the initial price
Initial price:	$37.83
Knock-in price:	$26.481, 70% of $37.83
Pricing date:	Aug. 27
Settlement date:	Aug. 29
Agent:	Natixis Securities North America Inc.
Fees:	2.3%

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