Published on 1/29/2007 in the Prospect News Structured Products Daily.
New Issue: Eksportfinans prices $10.206 million 17.25% notes linked to Dogs of the Dow via IXIS
By Angela McDaniels
Seattle, Jan. 29 - Eksportfinans ASA priced a $10.206 million issue of 17.25% reverse convertible notes due Jan. 31, 2008 linked to a basket containing the 2007 Dogs of the Dow stocks via IXIS Securities North America Inc., according to a 424B3 filing with the Securities and Exchange Commission.
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. and JPMorgan Chase & Co.
Interest is payable monthly.
The payout at maturity will be 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 one or more of the stocks finishes below its initial share price, in which case the payout will be a number of the worst-performing shares equal to $1,000 divided by that stock's initial share price.
| Issuer: | Eksportfinans ASA
|
| Issue: | Reverse convertible notes
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| Underlying basket: | 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. and JPMorgan Chase & Co.
|
| Amount: | $10.206 million
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| Maturity: | Jan. 31, 2008
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| Coupon: | 17.25%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless any stock falls falls below its knock-in price during the life of the notes and any stock finishes below its initial share price, in which case a number of the worst-performing shares equal to $1,000 divided by the initial share price of that stock
|
| Initial share prices: | Pfizer, $26.29; Verizon, $37.83; Altria, $88.00; AT&T, $36.40; Citigroup, $54.67; Merck, $45.99; GM, $32.93; duPont, $49.19; GE, $36.07; JPMorgan, $49.70
|
| Knock-in prices: | Pfizer, $15.774; Verizon, $22.698; Altria, $52.90; AT&T, $21.84; Citigroup, $32.802; Merck, $27.594; GM, $19.758; duPont, $29.514; GE, $21.642; JPMorgan, $29.82
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| Pricing date: | Jan. 26
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| Settlement date: | Jan. 31
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| Agent: | IXIS Securities North America Inc.
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| Agent fees: | 3%
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