New Issue: Eksportfinans prices $80,000 of 11.05% reverse convertibles linked to Deere via Natixis

By Laura Lutz

Des Moines, Aug. 28 - Eksportfinans ASA priced an $80,000 issue of 11.05% reverse convertible notes due Aug. 29, 2008 linked to the common stock of Deere & Co., according to a 424B3 filing with the Securities and Exchange Commission.

Natixis Securities North America Inc. will be the underwriter.

Interest will be payable monthly.

At maturity, investors will receive par unless Deere stock falls below the knock-in price, 80% of the initial price of $130.26, during the life of the notes and finishes below the initial price. Otherwise, the payout will be in Deere stock, with the number of share equal to $1,000 divided by the initial share price.

Issuer:	Eksportfinans ASA
Issue:	Reverse convertible notes
Amount:	$80,000
Underlying stock:	Deere & Co. (NYSE: DE)
Maturity:	Aug. 29, 2008
Coupon:	11.05%, payable monthly
Price:	Par
Payout at maturity:	Par in cash if Deere stock stays at or above the knock-in price of $104.208 or finishes at or above the initial price; otherwise, shares of Deere stock equal to $1,000 divided by the initial price
Initial price:	$130.26
Knock-in price:	$104.208, 80% of $130.26
Pricing date:	Aug. 24
Settlement date:	Aug. 29
Agent:	Natixis Securities North America Inc.
Fees:	3%

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