New Issue: Natixis prices $288,000 27.75% reverse convertibles linked to GE for Eksportfinans

By Angela McDaniels

Tacoma, Wash., March 9 - Eksportfinans ASA priced $288,000 of reverse convertible notes due Sept. 11, 2009 linked to the common stock of General Electric Co. via underwriter Natixis Securities North America Inc., according to a 424B3 filing with the Securities and Exchange Commission.

The six-month notes pay 13.875% for an annualized rate of 27.75%. Interest is payable monthly.

The payout at maturity will be par unless GE stock falls below the knock-in price - 50% of the initial share price - during the life of the notes and the final share price is less than the initial price, in which case investors will receive a number of GE shares equal to $1,000 divided by the initial price.

Issuer:	Eksportfinans ASA
Issue:	Reverse convertible notes
Underlying stock:	General Electric Co. (Symbol: GE)
Amount:	$288,000
Maturity:	Sept. 11, 2009
Coupon:	27.75%, payable monthly
Price:	Par
Payout at maturity:	If GE stock falls below the knock-in price during the life of the notes and the final share price is less than the initial price, 141.6431 GE shares; otherwise, par
Initial share price:	$7.06
Knock-in price:	$3.53, 50% of initial price
Pricing date:	March 6
Settlement date:	March 11
Underwriter:	Natixis Securities North America Inc.
Fees:	4%

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