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Natixis to price 23.3% reverse convertibles linked to Overstock.com for Eksportfinans
By Angela McDaniels
Seattle, July 2 - Natixis Securities North America Inc. plans to price an offering of reverse convertible notes due Oct. 30, 2007 linked to the common stock of Overstock.com, Inc. for issuer Eksportfinans ASA, according to an FWP filing with the Securities and Exchange Commission.
The three-month notes will pay 5.825% for an annualized rate of 23.3%. Interest will be payable monthly.
The payout at maturity will be par unless Overstock.com stock closes below the knock-in level - 75% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Overstock.com shares equal to $1,000 divided by the initial share price.
The notes will price on July 24 and settle on July 27.
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