New Issue: Eksportfinans sells $1.5 million 16% reverse convertibles linked to WCI via Deutsche

By Laura Lutz

Des Moines, Nov. 3 - Eksportfinans ASA priced $1.5 million of 16% knock-in reverse convertible securities due Nov. 6, 2007 linked to WCI Communities, Inc. stock via agent Deutsche Bank Securities Inc., according to an FWP filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash if WCI stock stays at or above the protection price, 50% of the initial price of $61.27, between Nov. 1, 2006 and Nov. 1, 2007, and finishes at or above the initial price. Otherwise, the payout will be in 62.383 shares of WCI stock, the number of shares equal to $1,000 divided by the initial share price.

Issuer:	Eksportfinans ASA
Issue:	Knock-in reverse convertible securities
Underlying stock:	WCI Communities, Inc.
Amount:	$1.5 million
Maturity:	Nov. 6, 2007
Coupon:	16%, payable quarterly
Price:	Par
Payout at maturity:	Par in cash if WCI stock stays at or above the knock-in price of $8.015 and finishes at or above the initial price; otherwise 62.383 shares of WCI stock
Initial price:	$16.03
Knock-in price:	$8.015, 50% of $16.03
Pricing date:	Nov. 1
Settlement date:	Nov. 6
Agent:	Deutsche Bank Securities Inc.
Agent's fee:	3.5%

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.