Eksportfinans to price 17.25% reverse convertibles linked to Dogs of the Dow via IXIS

By Laura Lutz

New York, Jan. 8 - Eksportfinans ASA plans to price an issue of 17.25% reverse convertible securities due January 31, 2008 linked to a basket consisting of the 2007 Dogs of the Dow stocks, according to an FWP filing with the Securities and Exchange Commission.

IXIS Securities North America Inc. will be the agent.

The basket includes Pfizer Inc.; Verizon Communications Inc.; Altria Group, Inc.; AT&T Inc.; Citigroup Inc.; Merck & Co., Inc.; General Motors Corp.; E.I. du Pont de Nemours and Co.; General Electric Co.; JPMorgan Chase & Co.

The notes will be priced at par of $1 million. Interest will be payable monthly.

At maturity, investors will receive par unless any of the stocks falls below its knock-in price, 60% of its initial share price, during the life of the notes and finishes below the initial share price.

If such a knock-in event occurs and if one of the reference stocks closes below its initial level, investors will receive a number of the worst-performing reference shares equal to the share redemption amount of that stock.

The share redemption amount for each stock will be equal to $1 million divided by the initial share price of that stock.

The securities will price on Jan. 26 and settle on Jan. 31.

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