Published on 1/29/2008 in the Prospect News Structured Products Daily.
New Issue: Natixis prices $155,000 35% reverse convertibles on technology large caps for Eksportfinans
By E. Janene Geiss
Philadelphia, Jan. 29 - Eksportfinans ASA priced $155,000 of 35% reverse convertible notes due July 31, 2008 linked to the "Technology Large Caps" stock basket via Natixis Securities North America Inc., according to a 424B3 filing with the Securities and Exchange Commission.
The underlying stocks are Apple Inc., Amazon.com, Inc., Google Inc. and Research in Motion Ltd.
Interest is payable monthly.
At maturity, investors will receive par if none of the component stocks closes below its knock-in price - 70% of the initial price - during the life of the notes or if each stock finishes at or above its initial price.
Otherwise, the payout will be a number of shares of the worst-performing stock equal to par divided by the initial price of that stock.
| Issuer: | Eksportfinans ASA
|
| Issue: | Reverse convertible notes
|
| Underlying stocks: | Apple Inc. (AAPL), Amazon.com, Inc. (AMZN), Google Inc. (GOOG) and Research in Motion Ltd. (RIMM)
|
| Amount: | $155,000
|
| Maturity: | July 31, 2008
|
| Coupon: | 35%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless a component stock closes below its knock-in price during the life of the notes and the worst-performing stock finishes below its initial price, in which case the payout will be a number of the worst-performing shares equal to par divided by the initial share price
|
| Initial share prices: | $77.60 for Apple, $130.01 for Amazon.com, $566.40 for Google, $91.05 for Research in Motion
|
| Knock-in prices: | 70% of the initial share prices: $54.320 for Apple, $91.007 for Amazon.com, $396.480 for Google, $63.735 for Research in Motion
|
| Pricing date: | Jan. 25
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| Settlement date: | Jan. 31
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| Underwriter: | Natixis Securities North America Inc.
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| Fees: | 2.5%
|
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