Published on 8/28/2007 in the Prospect News Structured Products Daily.
New Issue: Eksportfinans prices $2.06 million 40% reverse convertibles linked to InterOil via Natixis
By Laura Lutz
Des Moines, Aug. 28 - Eksportfinans ASA priced a $2.06 million issue of 40% reverse convertible notes due Nov. 29, 2007 linked to the common stock of InterOil Corp., according to a 424B3 filing with the Securities and Exchange Commission.
Natixis Securities North America Inc. will be the underwriter.
Interest will be payable monthly.
At maturity, investors will receive par unless InterOil stock falls below the knock-in price, 60% of the initial price of $36.08, during the life of the notes and finishes below the initial price. Otherwise, the payout will be in InterOil stock, with the number of shares equal to $1,000 divided by the initial share price.
| Issuer: | Eksportfinans ASA
|
| Issue: | Reverse convertible notes
|
| Amount: | $2,057,000
|
| Underlying stock: | InterOil Corp. (Amex: IOC)
|
| Maturity: | Nov. 29, 2007
|
| Coupon: | 40%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par in cash if InterOil stock stays at or above the knock-in price of $21.648 or finishes at or above the initial price; otherwise, shares of InterOil stock equal to $1,000 divided by the initial price
|
| Initial price: | $36.08
|
| Knock-in price: | $21.648, 60% of $36.08
|
| Pricing date: | Aug. 24
|
| Settlement date: | Aug. 29
|
| Agent: | Natixis Securities North America Inc.
|
| Fees: | 2.25%
|
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