By Laura Lutz
Washington, Dec. 20 - Eksportfinans ASA priced a $1 million issue of 12% knock-in reverse convertible securities due Dec. 21, 2007 linked to the common stock of LCA-Vision Inc. via agent IXIS Securities North America Inc., according to an FWP filing with the Securities and Exchange Commission.
The notes will pay interest quarterly.
The payout at maturity will be par in cash unless LCA-Vision stock falls below the knock-in price of $19.95 during the life of the notes and finishes below the initial share price of $33.25, in which case the payout will be a number of LCA-Vision shares equal to $1,000 divided by the initial share price.
| Issuer: | Eksportfinans ASA
|
| Issue: | Knock-in reverse convertible securities
|
| Underlying stock: | LCA-Vision Inc.
|
| Amount: | $1 million
|
| Maturity: | Dec. 21, 2007
|
| Coupon: | 12%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par in cash if LCA-Vision stock stays at or above the knock-in price of $19.95 and finishes at or above the initial price; otherwise 30.0752 shares of LCA-Vision stock
|
| Initial share price: | $33.25
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| Knock-in price: | $19.95, 60% of initial share price
|
| Pricing date: | Dec. 19
|
| Settlement date: | Dec. 21
|
| Agent: | IXIS Securities North America Inc.
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