Natixis to price 15.85% reverse convertibles linked to Foster Wheeler for Eksportfinans

By E. Janene Geiss

Philadelphia, Oct. 15 - Agent Natixis Securities North America Inc. plans to price an issue of reverse convertible notes due May 1, 2008 linked to the common stock of Foster Wheeler Ltd. for issuer Eksportfinans ASA, according to an FWP filing with the Securities and Exchange Commission.

The six-month notes will pay 7.925% for an annualized rate of 15.85%. Interest will be payable monthly.

Payout at maturity will be par if Foster Wheeler stock stays above 75% of its initial price during the life of the notes or finishes above its initial price.

Otherwise, payout will be a number of Foster Wheeler shares equal to $1,000 divided by the initial price.

The notes are expected to price Oct. 26 and settle Oct. 31.

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