Published on 7/26/2007 in the Prospect News Structured Products Daily.
New Issue: Natixis prices $157,000 of 25.25% reverse convertibles linked to OmniVision for Eksportfinans
By Laura Lutz
Des Moines, July 26 - Eksportfinans ASA plans to price a $157,000 issue of 25.25% reverse convertible notes due Oct. 30, 2007 linked to the common stock of OmniVision Technologies, Inc., according to a 424B3 filing with the Securities and Exchange Commission.
Natixis Securities North America Inc. will be the underwriter.
At maturity, investors will receive par unless OmniVision stock falls below the knock-in price, 75% of the initial price of $18.32, during the life of the notes and finishes at or above the initial price. Otherwise, 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: | $157,000
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Underlying stock: | OmniVision Technologies, Inc.
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Maturity: | Oct. 30, 2007
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Coupon: | 25.25%
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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 $13.74 and finishes at or above the initial price; otherwise, shares of OmniVision stock equal to $1,000 divided by the initial price
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Initial price: | $18.32
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Knock-in price: | $13.74, 75% of $18.32
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Pricing date: | July 24
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Settlement date: | July 27
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Agent: | Natixis Securities North America Inc.
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Fees: | 2%
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