By Jennifer Chiou
New York, March 21 - Eksportfinans ASA priced a $1.1 million issue of knock-in reverse convertible securities due Sept. 26, 2007 linked to the common stock of Oshkosh Truck Corp. via agent Natixis Securities North America Inc., according to an FWP filing with the Securities and Exchange Commission.
The six-month notes will pay 5.3125% for an annualized rate of 10.625%. Interest will be paid monthly.
The payout at maturity will be par in cash unless Oshkosh Truck stock falls below the knock-in price of $41.712 during the life of the notes and finishes below the initial share price of $52.14, in which case the payout will be a number of Oshkosh Truck shares equal to $1,000 divided by the initial share price.
| Issuer: | Eksportfinans ASA
|
| Issue: | Knock-in reverse convertible securities
|
| Underlying stock: | Oshkosh Truck Corp.
|
| Amount: | $1.1 million
|
| Maturity: | Sept. 26, 2007
|
| Coupon: | 10.625%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par in cash if Oshkosh Truck stock stays at or above the knock-in during the life of the notes or finishes at or above the initial price; otherwise 19.1791 shares of Oshkosh Truck stock
|
| Initial share price: | $52.14
|
| Knock-in price: | $41.712, 80% of initial share price
|
| Pricing date: | March 21
|
| Settlement date: | March 26
|
| Agent: | Natixis Securities North America Inc.
|
| Agent fees: | 1.6%
|
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