New Issue: Natixis prices $120,000 10.5% reverse convertibles linked to Google for Eksportfinans

By Susanna Moon

Chicago, Feb. 26 - Eksportfinans ASA priced a $120,000 issue of 10.5% reverse convertible notes due Aug. 27, 2008 linked to the common stock of Google Inc. via agent Natixis Securities North America Inc., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

If Google stock falls below the knock-in price - 75% of the initial share price - during the life of the notes and finishes below the initial share price, the payout at maturity will be a number of Google shares equal to par divided by the initial share price.

Otherwise, investors will receive par.

Issuer:	Eksportfinans ASA
Issue:	Reverse convertible notes
Underlying stock:	Google Inc. (Nasdaq: GOOG)
Amount:	$120,000
Maturity:	Aug. 27, 2008
Coupon:	10.5%, payable monthly
Price:	Par
Payout at maturity:	If stock falls by more than 25% during the life of the notes and the stock finishes below the initial price, 1.9693 Google shares; otherwise, par
Initial share price:	$507.80
Knock-in price:	$380.85, 75% of initial share price
Pricing date:	Feb. 22
Settlement date:	Feb. 27
Agent:	Natixis Securities North America Inc.
Fees:	2.25%

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