Published on 6/26/2007 in the Prospect News Structured Products Daily.
New Issue: Natixis prices $1.361 million 23.65% reverse convertibles tied to OmniVision for Eksportfinans
By Laura Lutz
Des Moines, June 26 - Eksportfinans ASA priced a $1.361 million issue of 23.65% reverse convertible notes due Sept. 27, 2007 linked to the common stock of OmniVision Technologies, Inc. via Natixis Securities North America Inc., according to a 424B3 filing with the Securities and Exchange Commission.
Interest is payable monthly.
At maturity, investors will receive par unless OmniVision stock falls below the knock-in price, 75% of the initial share price of $17.38, during the life of the notes and finishes below the initial share price, in which case the payout will be in OmniVision stock, with the number of shares equal to $1,000 divided by the initial share price.
Issuer: | Eksportfinans ASA
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Issue: | Reverse convertible notes
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Amount: | $1.361 million
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Underlying stock: | OmniVision Technologies, Inc.
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Maturity: | Sept. 27, 2007
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Coupon: | 23.65%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash if OmniVision stock stays at or above the knock-in price of $13.035 during the life of the notes and finishes at or above the initial share price; otherwise, shares of OmniVision stock equal to $1,000 divided by the initial share price
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Initial share price: | $17.38
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Knock-in price: | $13.035, 75% of $17.38
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Pricing date: | June 22
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Settlement date: | June 27
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Underwriter: | Natixis Securities North America Inc.
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Fees: | 2.25%
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