Morgan Stanley plans 9.5%-13.5% RevCons on Russell 2000 for Eksportfinans

By Susanna Moon

Chicago, May 12 - Eksportfinans ASA plans to price 9.5% to 13.5% annualized reverse convertible notes due Nov. 27, 2009 linked to the iShares Russell 2000 index fund, according to an FWP filing with the Securities and Exchange Commission.

Morgan Stanley & Co. Inc. is the agent.

Interest will be payable monthly.

If the fund falls below the knock-in price - 75% 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 shares equal to par divided by the initial share price.

Otherwise, the payout will be par.

The notes are expected to price on May 21 and settle on May 27.

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