By Laura Lutz
Des Moines, April 3 - Eksportfinans ASA priced $1 million of 30.5% reverse convertible notes due Oct. 7, 2008 linked to the common stock of Freddie Mac via Natixis Securities North America Inc., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
If Freddie Mac stock falls below the knock-in price - 50% of the initial share price - during the life of the notes and finishes below the initial price, the payout at maturity will be a number of Freddie Mac shares equal to par divided by the initial share price.
Otherwise, the payout will be par.
| Issuer: | Eksportfinans ASA
|
| Issue: | Reverse convertible notes
|
| Underlying stock: | Freddie Mac (Symbol: FRE)
|
| Amount: | $1 million
|
| Maturity: | Oct. 7, 2008
|
| Coupon: | 30.5%
|
| Price: | Par
|
| Payout at maturity: | If stock falls below knock-in price and finishes below initial price, Freddie Mac shares equal to par divided by initial price; otherwise, par
|
| Initial price: | $27.83
|
| Knock-in price: | $13.915, 50% of initial price
|
| Pricing date: | April 3
|
| Settlement date: | April 7
|
| Underwriter: | Natixis Securities North America Inc.
|
| Fees: | 1.25%
|
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