Eksportfinans plans 11% one-year notes linked to Rowan

By Jennifer Chiou

New York, Aug. 31 - Eksportfinans ASA plans to price an issue of one-year 11% Knock-in Reverse Exchangeable notes linked to Rowan Cos., Inc. stock, according to a 424B3 filing with the Securities and Exchange Commission.

Interest will be payable quarterly.

At maturity, the notes pay par in cash if Rowan Cos. stock never trades at the knock-in level of 65% of the initial price or if it finishes above the initial price. Otherwise the payout is a number of shares of Rowan Cos. stock equal to $1,000 divided by the initial price.

IXIS Securities North America Inc. will be the agent for the sale.

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