Published on 10/2/2007 in the Prospect News Structured Products Daily.
New Issue: Natixis prices $68,000 16% reverse convertibles linked to Southern Copper for Eksportfinans
By Susanna Moon
Chicago, Oct. 2 - Eksportfinans ASA priced $68,000 of 16% reverse convertible notes due April 3, 2008 linked to the common stock of Southern Copper Corp. via Natixis Securities North America Inc., according to an FWP 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 25% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Southern Copper shares equal to $1,000 divided by the initial share price.
Issuer: | Eksportfinans ASA
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Issue: | Reverse convertible notes
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Underlying stock: | Southern Copper Corp. (NYSE: PCU)
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Amount: | $68,000
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Maturity: | April 3, 2008
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Coupon: | 16%, payable monthly
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Price: | Par
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Payout at maturity: | If the stock closes below the knock-in price during the life of the notes and the final share price is less than the initial share price, 8.0756 Southern Copper shares; otherwise, par
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Initial share price: | $123.83
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Knock-in price: | $92.873, or 75% of initial share price
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Pricing date: | Sept. 28
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Settlement date: | Oct. 3
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Agent: | Natixis Securities North America Inc.
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Fees: | 2.5%
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