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IXIS to price 10.5% knock-in reverse convertibles linked to stock basket for Eksportfinans
By Jennifer Chiou
New York, Feb. 7 - Eksportfinans ASA plans to price 10.5% knock-in reverse convertible securities due Feb. 28, 2008 linked to Exxon Mobil Corp., Pfizer Inc. and Wal-Mart Stores, 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 monthly.
The securities are expected to price on Feb. 23 and settle on Feb. 28.
At maturity, investors will receive par unless any of the basket stocks fall 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 shares equal to $1,000 divided by the initial share price of the least performing stock.
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