New Issue: Natixis prices $3.22 million 25% reverse convertibles on Research In Motion for Eksportfinans

By Jennifer Chiou

New York, Dec. 7 - Eksportfinans ASA priced $3.22 million of 25% annualized reverse convertible notes due March 11, 2008 linked to the common stock of Research In Motion Ltd. via Natixis Securities North America Inc., according to an FWP filing with the Securities and Exchange Commission.

Interest is payable monthly.

At maturity, investors will receive par if the stock never closes below its knock-in price - 60% of the initial price - during the life of the notes or if the stock finishes at or above its initial price.

Otherwise, the payout will be the number of Research In Motion shares equal to par divided by its initial price.

Issuer:	Eksportfinans ASA
Issue:	Reverse convertible notes
Underlying stock:	Research In Motion Ltd. (Nasdaq: RIMM)
Amount:	$3,215,000
Maturity:	March 11, 2008
Coupon:	25% annualized, payable monthly
Price:	Par
Payout at maturity:	Par unless the stock closes below its knock-in price during the life of the notes and finishes below its initial share price, in which case the payout will be a number of shares equal to par divided by the initial share price
Initial share price:	$103.88
Knock-in price:	$62.328, 60% of the initial share price
Pricing date:	Dec. 7
Settlement date:	Dec. 11
Underwriter:	Natixis Securities North America Inc.
Fees:	2.15%

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