New Issue: Natixis prices $245,000 26.4% reverse convertibles linked to WaMu for Eksportfinans

By Susanna Moon

Chicago, March 28 - Eksportfinans ASA priced $245,000 of 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.

If Washington Mutual 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 Washington Mutual shares equal to par divided by the initial share price.

Otherwise, the payout will be par.

Issuer:	Eksportfinans ASA
Issue:	Reverse convertible notes
Underlying stock:	Washington Mutual, Inc. (Symbol: WM)
Amount:	$245,000
Maturity:	July 1, 2008
Coupon:	26.4%, payable monthly
Price:	Par
Payout at maturity:	If stock falls below knock-in price during life of notes and finishes below initial price, 86.7303 Washington Mutual shares; otherwise, par
Initial price:	$11.53
Knock-in price:	$6.918, or 60% of initial price
Pricing date:	March 26
Settlement date:	March 31
Underwriter:	Natixis Securities North America Inc.
Fees:	2%

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