Morgan Stanley to sell 10%-12% RevCons linked to Google for Eksportfinans

By Susanna Moon

Chicago, June 24 - Eksportfinans ASA plans to price 10% to 12% annualized reverse convertible notes due Jan. 16, 2009 linked to the common stock of Google Inc. via Morgan Stanley & Co. Inc., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

If Google stock falls below the knock-in price - 80% 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 Google shares equal to par divided by the initial share price.

Otherwise, the payout will be par.

The notes are expected to price on July 11 and settle on July 16.

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