New Issue: Eksportfinans prices $3.5 million linked to UPS at 2%, up 14.25%

By Angela McDaniels

Seattle, April 13 - Eksportfinans ASA priced $3.5 million of 2% exchangeable notes due April 18, 2010 linked to the common stock of United Parcel Service Inc. with a 14.25% initial conversion premium, according to a 424B3 filing with the Securities and Exchange Commission.

Issuer:	Eksportfinans ASA
Issue:	Exchangeable notes
Underlying stock:	United Parcel Service Inc.
Amount:	$1.8 million
Maturity:	April 18, 2010
Coupon:	2%
Price:	Par
Conversion premium:	14.25%
Conversion price:	$92.851
Conversion ratio:	10.77
Initial share price:	$81.27
Callable:	Beginning April 20, 2009, automatic conversion if more valuable
Exchangeable:	Beginning April 19, 2006
Pricing date:	April 11
Settlement date:	April 18
Agent:	Deutsche Bank Securities Inc.

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