New Issue: Eksportfinans prices $255,000 10.2% reverse convertibles linked to Home Depot

By Susanna Moon

Chicago, Aug. 21 - Eksportfinans ASA priced a $255,000 issue of 10.2% reverse convertible notes due Aug. 22, 2008 linked to Home Depot, Inc. common stock, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless the stock falls by more than 20% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Home Depot shares equal to $1,000 divided by the initial share price or, at the bank's option, the equivalent cash value.

Natixis Securities North America Inc. is the agent.

Issuer:	Eksportfinans ASA
Issue:	Reverse convertible notes
Underlying stock:	Home Depot, Inc. (NYSE: HD)
Amount:	$255,000
Maturity:	Aug. 22, 2008
Coupon:	10.2%, payable monthly
Price:	Par
Payout at maturity:	If the stock falls below the knock-in level during the life of the notes and finishes below the initial share price, a number of shares equal to $1,000 divided by the initial price or the equivalent cash value; otherwise, par
Initial share price:	$33.31
Knock-in price:	$26.648 or 80% of initial share price
Pricing date:	Aug. 17
Settlement date:	Aug. 22
Agent:	Natixis Securities North America Inc.
Fees:	1%

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.