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Natixis to price 26.4% reverse convertibles linked to WaMu for Eksportfinans
By Angela McDaniels
Tacoma, Wash., March 5 - Eksportfinans ASA plans to price 26.4% annualized reverse convertible notes due July 1, 2008 linked to the common stock of Washington Mutual, Inc. via Natixis Securities North America Inc., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par unless WaMu stock falls below the knock-in price - 60% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of WaMu shares equal to par divided by the initial share price.
The notes are expected to price on March 26 and settle on March 31.
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