Natixis to sell 21.50% reverse convertibles linked to "Dogs of Dow" for Eksportfinans

By E. Janene Geiss

Philadelphia, Nov. 5 - Natixis Securities North America Inc. plans to sell 21.50% reverse convertible notes due Dec. 1, 2008 linked to the worst performing stock out of the "Dogs of the Dow" for November 2007 for issuer Eksportfinans ASA, according to an FWP filing with the Securities and Exchange Commission.

The underlying stocks include Altria Group, Inc., AT&T Inc., Citigroup Inc., E.I. du Pont de Nemours & Co., General Electric Co., General Motors Corp., The Home Depot, Inc., JPMorgan Chase & Co., Pfizer, Inc. and Verizon Communications Inc.

At maturity, investors will receive par if any of the stocks close below its knock-in price, 60% of the initial price, during the life of the notes or if any of the stock finishes at or above its initial price.

Otherwise, the payout will be a number of the worst performing shares equal to par divided by the initial price of that stock.

Interest will be payable monthly.

The notes are expected to price Nov. 27 and settle Nov. 30.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.