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Eksportfinans plans 19.05% reverse convertibles linked to Lehman Brothers via Natixis
By Laura Lutz
Des Moines, April 4 - Eksportfinans ASA plans to price 19.05% annualized reverse convertible notes due Oct. 30, 2008 linked to the common stock of Lehman Brothers Holdings Inc. via Natixis Securities North America Inc., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
If Lehman Brothers stock falls below the knock-in price - 65% of the initial share price - during the life of the notes and finishes below the initial price, the payout at maturity will be a number of Lehman Brothers shares equal to par divided by the initial share price.
Otherwise, the payout will be par.
The notes are expected to price on April 25 and settle on April 30.
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