IXIS to sell 11.75% notes linked to Suntech Power for Eksportfinans

By Angela McDaniels

Seattle, Nov. 9 - Eksportfinans ASA plans to price an issue of 11.75% knock-in reverse convertible securities due Nov. 14, 2007 linked to the common stock of Suntech Power Holdings Co. Ltd. via agent IXIS Securities North America Inc., according to a 424B3 filing with the Securities and Exchange Commission.

Interest will be payable quarterly.

The securities will price on Nov. 9 and settle on Nov. 14.

The payout at maturity will be par unless Suntech Power stock falls below the knock-in level - 50% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Suntech Power shares equal to $1,000 divided by the initial share price.

© 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.