Natixis to price 25.25% reverse convertibles linked to Dogs of the Dow for Eksportfinans

By Jennifer Chiou

New York, March 5 - Eksportfinans ASA plans to price 25.25% reverse convertible notes due March 31, 2009 linked to a basket consisting of the March 2008 Dogs of the Dow stocks via agent Natixis Securities North America Inc., according to an FWP filing with the Securities and Exchange Commission.

The basket contains the common stocks of AT&T Inc.; Bank of America Corp.; Citigroup Inc.; E.I. du Pont de Nemours and Co.; General Electric Co.; General Motors Corp.; JPMorgan Chase & Co.; Merck & Co., Inc.; Pfizer Inc.; and Verizon Communications Inc.

Interest will be payable monthly.

At maturity, investors will receive par if none of the stocks falls below its knock-in price - 60% of its initial price - during the life of the notes or if none of the stocks finishes below its initial level.

Otherwise, investors will receive a number of shares of the worst-performing reference stock equal to $1,000 divided by the initial share price of that stock.

The securities are expected to price on March 26 and settle on March 31.

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