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Natixis to price 16.6% reverse convertibles linked to Freeport-McMoRan for Eksportfinans
By Susanna Moon
Chicago, May 5 - Eksportfinans ASA plans to price 16.6% annualized reverse convertible notes due Nov. 28, 2008 linked to the common stock of Freeport-McMoRan Copper & Gold Inc. via Natixis Securities North America Inc., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
Payout at maturity will be par unless Freeport-McMoRan stock falls below the knock-in price - 70% 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 Freeport-McMoRan shares equal to par divided by the initial share price.
The notes are expected to price on May 22 and settle on May 28.
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