New Issue: Natixis prices $315,000 13% reverse convertibles linked to Andersons for Eksportfinans

By Laura Lutz

Des Moines, June 26 - Eksportfinans ASA priced a $315,000 issue of 13% reverse convertible notes due Dec. 27, 2007 linked to the common stock of the Andersons, Inc. via Natixis Securities North America Inc., according to a 424B3 filing with the Securities and Exchange Commission.

Interest is payable monthly.

At maturity, investors will receive par unless Andersons stock falls below the knock-in price, 80% of the initial share price of $34.23, during the life of the notes and finishes below the initial share price, in which case the payout will be in Andersons stock, with the number of shares equal to $1,000 divided by the initial share price.

Issuer:	Eksportfinans ASA
Issue:	Reverse convertible notes
Amount:	$315,000
Underlying stock:	The Andersons, Inc.
Maturity:	Dec. 27, 2007
Coupon:	13%, payable monthly
Price:	Par
Payout at maturity:	Par in cash if Andersons stock stays at or above the knock-in price of $36.48 during the life of the notes and finishes at or above the initial share price; otherwise, shares of Andersons stock equal to $1,000 divided by the initial share price
Initial share price:	$45.60
Knock-in price:	$36.48, 80% of $45.60
Pricing date:	June 22
Settlement date:	June 27
Underwriter:	Natixis Securities North America Inc.
Fees:	2.5%

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