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Eksportfinans to price 14.85% reverse convertibles linked to Garmin via Natixis
By Laura Lutz
Des Moines, Sept. 28 - Eksportfinans ASA plans to price an issue of 14.85% reverse convertible notes due April 17, 2008 linked to the common stock of Garmin Ltd., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
Payout at maturity will be par if Garmin stock stays above 70% of its initial price during the life of the notes or finishes above its initial price.
Otherwise, payout will be a number of Garmin shares equal to $1,000 divided by the initial price.
The notes are expected to price on Oct. 12 and settle on Oct. 17.
Natixis Securities North America Inc. will act as agent.
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