Natixis pushes back pricing of 14% reverse convertibles linked to GM for Eksportfinans

By Angela McDaniels

Tacoma, Wash., March 3 - Natixis Securities North America Inc. will price Eksportfinans ASA's upcoming issue of 14% reverse convertible notes linked to the common stock of General Motors Corp. on March 5 instead of Feb. 29 as originally planned, according to an FWP filing with the Securities and Exchange Commission.

Settlement will occur on March 10, and the notes will now mature on March 10, 2009 instead of March 5, 2009.

Interest will be payable monthly.

The payout at maturity will be par unless GM stock falls by more than 50% during the life of the notes and the final share price is less than the initial share price, in which case the payout will be a number of GM shares equal to $1,000 divided by the initial share price.

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