Published on 9/21/2006 in the Prospect News Structured Products Daily.
New Issue: IXIS prices $1.01 million 10.8% notes linked to Statoil for Eksportfinans
By Angela McDaniels
Seattle, Sept. 21 - IXIS Securities North America Inc. priced a $1.01 million issue of 10.8% knock-in reverse convertible securities due Sept. 25, 2007 linked to Statoil ASA stock for issuer Eksportfinans ASA, according to an FWP filing with the Securities and Exchange Commission.
Payout at maturity will be par unless Statoil stock trades below the knock-in level of $16.341 during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Statoil shares equal to $1,000 divided by the initial share price.
Issuer: | Eksportfinans ASA
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Agent: | IXIS Securities North America Inc.
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Issue: | Knock-in reverse convertible securities
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Underlying stock: | Statoil ASA
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Amount: | $1.01 million
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Maturity: | Sept. 25, 2007
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Coupon: | 10.8%, payable quarterly
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Price: | Par
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Payout at maturity: | Par in cash unless Statoil stock trades below the knock-in level of $16.341 and finishes below the initial share price, in which case payout will be 29.777 shares of Statoil stock
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Initial share price: | $25.14
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Knock-in price: | $16.341, 65% of initial price
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Pricing date: | Sept. 19
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Settlement date: | Sept. 25
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Distribution: | Off shelf
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