New Issue: Eksportfinans prices $1 million 9% reverse convertibles linked to Popular via Natixis

By Jennifer Chiou

New York, May 31 - Natixis Securities North America Inc. priced a $1 million issue of 9% reverse convertible notes due June 13, 2008 linked to Popular, Inc. for issuer Eksportfinans ASA, according to an FWP filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless Popular stock falls below its knock-in price - 85% of the initial share price - during the life of the notes and finishes below its initial share price, in which case the payout will be a number of Popular shares equal to $1,000 divided by its initial share price.

Issuer:	Eksportfinans ASA
Issue:	Reverse convertible notes
Underlying stock:	Popular, Inc.
Amount:	$1 million
Maturity:	June 13, 2008
Coupon:	9%, payable monthly
Price:	Par
Payout at maturity:	If Popular stock falls below its knock-in price during the life of the notes and finishes below its initial share price, 58.072 Popular shares; otherwise, par
Initial share price:	$17.22
Knock-in price:	$14.637, 85% of initial share price
Pricing date:	May 31
Settlement date:	June 13
Agent:	Natixis Securities North America Inc.
Fees:	1.75%

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