Published on 3/12/2008 in the Prospect News Structured Products Daily.
New Issue: Natixis prices $1 million 18.8% reverse convertibles linked to FormFactor for Eksportfinans
By Jennifer Chiou
New York, March 12 - Eksportfinans ASA priced $1 million of 18.8% annualized reverse convertible notes due Sept. 15, 2008 linked to the common stock of FormFactor, Inc. via Natixis Securities North America Inc., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
If FormFactor stock falls below the knock-in price - 60% 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 FormFactor shares equal to par divided by the initial share price.
Otherwise, the payout will be par.
Issuer: | Eksportfinans ASA
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Issue: | Reverse convertible notes
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Underlying stock: | FormFactor, Inc. (Symbol: FORM)
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Amount: | $1 million
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Maturity: | Sept. 15, 2008
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Coupon: | 18.8%, payable monthly
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Price: | Par
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Payout at maturity: | If stock falls below knock-in price during life of notes and finishes below initial price, FormFactor shares equal to par divided by initial price; otherwise, par
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Initial price: | $17.96
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Knock-in price: | $10.776, 60% of initial price
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Pricing date: | March 12
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Settlement date: | March 14
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Underwriter: | Natixis Securities North America Inc.
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Fees: | 1.8%
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