New Issue: Natixis prices $369,000 16.05% reverse convertibles on Evergreen Solar for Eksportfinans

By Jennifer Chiou

New York, June 27 - Eksportfinans ASA priced $369,000 of 16.05% reverse convertible notes due Sept. 30, 2008 linked to the common stock of Evergreen Solar, Inc. via underwriter Natixis Securities North America Inc., according to a 424B3 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless Evergreen Solar stock falls by more than 40% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Evergreen Solar shares equal to par divided by the initial share price.

Issuer:	Eksportfinans ASA
Issue:	Reverse convertible notes
Underlying stock:	Evergreen Solar, Inc. (Symbol: ESLR)
Amount:	$369,000
Maturity:	Sept. 30, 2008
Coupon:	16.05%, payable monthly
Price:	Par
Payout at maturity:	If Evergreen Solar stock closes below the knock-in price during the life of the notes and the final share price is less than the initial price, 86.2069 Evergreen Solar shares; otherwise, par
Initial share price:	$11.60
Knock-in price:	$6.96, 60% of initial price
Pricing date:	June 25
Settlement date:	June 30
Underwriter:	Natixis Securities North America Inc.
Fees:	2.25%

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