New Issue: Natixis sells $282,000 27.75% reverse convertibles linked to General Electric for Eksportfinans

By Susanna Moon

Chicago, March 27 - Eksportfinans ASA priced $282,000 of 27.75% reverse convertible notes due Oct. 1, 2009 linked to the common stock of General Electric Co., according to an FWP filing with the Securities and Exchange Commission.

Natixis Securities North America Inc. is the agent.

Interest is payable monthly.

The payout at maturity will be par unless General Electric stock closes below the knock-in price - 50% of the initial level - during the life of the notes and the final share price is less than the initial price, in which case investors will receive a number of General Electric shares equal to $1,000 divided by the initial price.

Issuer:	Eksportfinans ASA
Issue:	Reverse convertible notes
Underlying stock:	General Electric Co. (NYSE: GE)
Amount:	$282,000
Maturity:	Oct. 1, 2009
Coupon:	27.75%, payable monthly
Price:	Par
Payout at maturity:	If General Electric stock closes below the knock-in price during the life of the notes and finishes below the initial price, General Electric shares equal to $1,000 divided by the initial price; otherwise, par
Initial share price:	$10.90
Knock-in price:	$5.45, 50% of initial level
Pricing date:	March 26
Settlement date:	March 31
Agent:	Natixis Securities North America Inc.
Fees:	4%

© 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.