New York, May 26 - Eksportfinans ASA priced $205,000 of 11% reverse convertible securities due May 31, 2007 linked to Canadian Natural Resources Ltd. stock, according to an FWP filing with the Securities and Exchange Commission.
If the share price does not fall below the knock-in level of $39.50 during the life of the notes, payout will be par.
If the share price falls below the knock-in level during the life of the notes and ends below its initial price, payout at maturity will be 18.9897 shares of Canadian Natural Resources stock per $1,000 principal amount.
If the share price falls below the knock-in level during the life of the note and ends at or above its initial price, payout at maturity will be par.
Issuer: | Eksportfinans ASA
|
Issue: | Reverse convertible securities
|
Underlying stock: | Canadian Natural Resources Ltd.
|
Amount: | $205,000
|
Maturity: | May 31, 2007
|
Coupon: | 11%, payable quarterly
|
Price: | Par
|
Payout at maturity: | 18.9897 shares of Canadian Natural Resources stock if the share price falls below the knock-in level of $39.50 during the life of the note and ends below its initial price; otherwise par
|
Initial share price: | $52.66
|
Knock-in level: | $39.50, 75% of initial share price
|
Pricing date: | May 25
|
Settlement date: | May 31
|
Issuer ratings: | Moody's: Aaa
|
| S&P: AA+
|
| Fitch: AAA
|
Manager: | Deutsche Bank
|
|
© 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.