Published on 11/29/2007 in the Prospect News Structured Products Daily.
New Issue: Natixis prices $344,000 25.2% reverse convertibles on technology large caps for Eksportfinans
By Laura Lutz
Des Moines, Nov. 29 - Eksportfinans ASA priced $344,000 of 25.2% reverse convertible notes due May 30, 2008 linked to four "Technology Large Caps" stocks via Natixis Securities North America Inc., according to a 424B3 filing with the Securities and Exchange Commission.
The basket stocks are Amazon.com, Inc.; Apple Inc.; Google Inc.; and Research In Motion Ltd.
If at least one of the reference stocks closes below its knock-in level - 65% of its initial share price - during the life of the notes and at least one of the reference stocks finishes below its initial level, the payout at maturity will be a number of shares of the worst-performing stock equal to par divided by the initial price of that stock.
Otherwise, the payout will be par.
| Issuer: | Eksportfinans ASA
|
| Issue: | Reverse convertible notes
|
| Underlying stocks: | Amazon.com, Inc. (Nasdaq: AMZN); Apple Inc. (Nasdaq: AAPL); Google Inc. (Nasdaq: GOOG); Research In Motion Ltd. (Nasdaq: RIMM)
|
| Amount: | $344,000
|
| Maturity: | May 30, 2008
|
| Coupon: | 25.2%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If any reference stock closes below its knock-in level during the life of the notes and any reference stock finishes below its initial level, a number of worst-performing shares equal to par divided by that stock's initial share price; otherwise, par
|
| Initial share price: | $85.59 for Amazon.com; $174.81 for Apple; $673.57 for Google; $115.68 for Research In Motion
|
| Knock-in level: | 65% of initial share price
|
| Pricing date: | Nov. 27
|
| Settlement date: | Nov. 30
|
| Underwriter: | Natixis Securities North America Inc.
|
| Fees: | 2.5%
|
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