Natixis to price 28.7% reverse convertibles linked to Freddie Mac for Eksportfinans

By Angela McDaniels

Tacoma, Wash., March 31 - Eksportfinans ASA plans to price reverse convertible notes due Oct. 9, 2008 linked to the common stock of Freddie Mac via underwriter Natixis Securities North America Inc., according to an FWP filing with the Securities and Exchange Commission.

The six-month notes will pay 14.35% for an annualized rate of 28.7%. Interest will be payable monthly.

The payout at maturity will be par unless Freddie Mac shares fall below the knock-in price - 50% of the initial share price - during the life of the notes and the final share price is less than the initial share price, in which case the payout will be a number of Freddie Mac shares equal to $1,0000 divided by the initial share price.

The notes will price on April 4 and settle on April 9.

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