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Barclays plans 16% reverse convertibles linked to Frontier Oil for Eksportfinans
By E. Janene Geiss
Philadelphia, Jan. 30 - Eksportfinans ASA plans to price 16% annualized reverse convertible notes due May 18, 2009 linked to the common stock of the Frontier Oil Corp., according to an FWP filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless Frontier Oil stock falls by more than 40% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Frontier Oil shares equal to $1,000 divided by the initial share price.
The notes are expected to price Feb. 10 and settle Feb. 18.
Barclays Capital is the agent.
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