Morgan Stanley to price 16%-20% RevCons linked to Weatherford stock for Eksportfinans

By Jennifer Chiou

New York, Sept. 10 - Eksportfinans ASA plans to price 16% to 20% annualized reverse convertible notes due March 30, 2010 linked to the common stock of Weatherford International Ltd., according to an FWP filing with the Securities and Exchange Commission.

Morgan Stanley & Co. Inc. is the agent.

Interest is payable monthly.

The payout at maturity will be par unless Weatherford International stock ever dips to or below its knock-in level - 75% of the initial share price - during the life of the notes and the final share price is less than the initial share price, in which case investors will receive a number of Weatherford International shares equal to $1,000 divided by the initial share price or, at Eksportfinans' option, an equivalent cash amount.

The notes will price on Sept. 23 and settle on Sept. 28.

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