New Issue: Natixis sells $355,000 19% reverse convertibles linked to Sunoco for Eksportfinans

By Jennifer Chiou

New York, March 13 - Eksportfinans ASA priced $355,000 of 19% reverse convertible notes due June 17, 2009 linked to the common stock of Sunoco, Inc. via underwriter Natixis Securities North America Inc., according to an FWP filing with the Securities and Exchange Commission.

Interest is payable monthly.

If Sunoco stock closes below the knock-in price - 60% of the initial level - during the life of the notes and the final share price is less than the initial price, the payout at maturity will be a number of Sunoco shares equal to $1,000 divided by the initial price. Otherwise, the payout will be par.

Issuer:	Eksportfinans ASA
Issue:	Reverse convertible notes
Underlying stock:	Sunoco, Inc. (Symbol: SUN)
Amount:	$355,000
Maturity:	June 17, 2009
Coupon:	19%, payable monthly
Price:	Par
Payout at maturity:	If Sunoco stock closes below the knock-in price during the life of the notes and finishes below the initial price, Sunoco shares equal to $1,000 divided by the initial price; otherwise, par
Initial share price:	$29.11
Knock-in price:	$17.466, 60% of initial level
Pricing date:	March 13
Settlement date:	March 17
Underwriter:	Natixis Securities North America Inc.
Fees:	2%

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