New Issue: Natixis prices $1.01 million 11.25% reverse convertibles linked to Sunoco for Eksportfinans

By Angela McDaniels

Tacoma, Wash., April 15 - Eksportfinans ASA priced $1.01 million of 11.25% reverse convertible notes due April1 17, 2009 linked to the common stock of Sunoco, Inc. 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 Sunoco 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 Sunoco shares equal to $1,000 divided by the initial share price.

Issuer:	Eksportfinans ASA
Issue:	Reverse convertible notes
Underlying stock:	Sunoco, Inc. (Symbol: SUN)
Amount:	$1.01 million
Maturity:	April 17, 2009
Coupon:	11.25%, payable monthly
Price:	Par
Payout at maturity:	If Sunoco 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, 19.1534 Sunoco shares; otherwise, par
Initial share price:	$52.21
Knock-in price:	$31.326, 60% of initial share price
Pricing date:	April 15
Settlement date:	April 17
Underwriter:	Natixis Securities North America Inc.
Fees:	2.35%

© 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.