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Natixis to price 14% reverse convertibles linked to Arch Coal for Eksportfinans
By Laura Lutz
Des Moines, Jan. 8 - Eksportfinans ASA plans to price an issue of 14% reverse convertible notes due July 31, 2008 linked to the common stock of Arch Coal, Inc. via Natixis Securities North America Inc., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
If Arch Coal stock falls below the knock-in price - 75% of the initial share price - during the life of the notes and finishes below the initial price, the payout at maturity will be a number of Arch Coal shares equal to par divided by the initial share price.
Otherwise, the payout will be par.
The notes are expected to price on Jan. 25 and settle on Jan. 31
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