Published on 11/29/2007 in the Prospect News Structured Products Daily.
New Issue: Natixis prices $159,000 33.1% reverse convertibles linked to InterOil for Eksportfinans
By E. Janene Geiss
Philadelphia, Nov. 29 - Eksportfinans ASA priced $159,000 of 33.1% annualized reverse convertible notes due March 3, 2008 linked to the common stock of InterOil Corp. via Natixis Securities North America Inc., according to an FWP filing with the Securities and Exchange Commission.
Interest is payable monthly.
At maturity, investors will receive par if InterOil stock closes below its knock-in price - 65% of the initial price - during the life of the notes or if the stock finishes at or above its initial price.
Otherwise, the payout will be the number of InterOil shares equal to par divided by its initial price.
Issuer: | Eksportfinans ASA
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Issue: | Reverse convertible notes
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Underlying stock: | InterOil Corp. (Amex: IOC)
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Amount: | $159,000
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Maturity: | March 3, 2008
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Coupon: | 33.1%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless the stock closes below its knock-in price during the life of the notes and finishes below its initial share price, in which case the payout will be a number of shares equal to par divided by the initial share price
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Initial share price: | $20.56
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Knock-in price: | $13.364, 65% of the initial share price
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Pricing date: | Nov. 27
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Settlement date: | Nov. 30
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Underwriter: | Natixis Securities North America Inc.
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Fees: | 0.2%
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