Eksportfinans plans issue of 11% reverse convertibles linked to Canadian Natural Resources

New York, May 10 - Eksportfinans ASA said it plans to issue one-year 11% reverse convertible notes linked to Canadian Natural Resources Ltd. stock, according to a 424B3 filing with the Securities and Exchange Commission.

Interest will be payable quarterly.

Payout at maturity will be par in cash if Canadian Natural Resources stock does not trade at or below the knock-in level, which will be 75% of the initial stock price on the pricing date.

If the stock does trade below the knock-in level, payout at maturity will be par in cash if the stock ends at or above its initial price or a number of Canadian Natural Resources shares equal to par divided by the initial stock price if the stock finishes below its initial price.

Deutsche Bank Securities will be the agent for the offering.

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