New Issue: Natixis prices $2.9 million 22.05% reverse convertibles linked to Nvidia for Eksportfinans

By Angela McDaniels

Tacoma, Wash., June 19 - Eksportfinans ASA priced $2.9 million of reverse convertible notes due Dec. 23, 2008 linked to the common stock of Nvidia Corp. via underwriter Natixis Securities North America Inc., according to an FWP filing with the Securities and Exchange Commission.

The six-month notes will pay 11.025% for an annualized coupon of 22.05%. Interest is payable monthly.

The payout at maturity will be par unless Nvidia stock falls by more than 30% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Nvidia shares equal to par divided by the initial share price.

Issuer:	Eksportfinans ASA
Issue:	Reverse convertible notes
Underlying stock:	Nvidia Corp. (Symbol: NVDA)
Amount:	$2.9 million
Maturity:	Dec. 23, 2008
Coupon:	22.05%, payable monthly
Price:	Par
Payout at maturity:	If Nvidia stock closes below the knock-in price during the life of the notes and the final share price is less than the initial price, 50.226 Nvidia shares; otherwise, par
Initial share price:	$19.91
Knock-in price:	$13.937, 70% of initial price
Pricing date:	June 19
Settlement date:	June 23
Underwriter:	Natixis Securities North America Inc.
Fees:	2.525%

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