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IXIS to price 23.5% knock-in reverse convertibles linked to Rambus for Eksportfinans
By Jennifer Chiou
New York, Jan. 12 - Eksportfinans ASA planned to price an issue of 23.5% knock-in reverse convertible securities due Jan. 31, 2008 linked to Rambus Inc. stock, according to an FWP filing with the Securities and Exchange Commission.
IXIS Securities North America Inc. will be the agent.
Interest will be payable quarterly.
The securities were expected to price on Jan. 26 and settle on Jan. 31.
At maturity, investors will receive par unless Rambus stock falls below the knock-in price - 80% 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 Rambus shares equal to $1,000 divided by the initial share price.
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