Morgan Stanley to price 9%-13% RevCons linked to Bank of New York Mellon stock for Eksportfinans

By Jennifer Chiou

New York, Sept. 24 - Eksportfinans ASA plans to price 9% to 13% annualized reverse convertible notes due April 15, 2010 linked to the common stock of Bank of New York Mellon Corp., 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 Bank of New York Mellon 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 Bank of New York Mellon shares equal to $1,000 divided by the initial share price or, at Eksportfinans' option, an equivalent cash amount.

The notes will price on Oct. 9 and settle on Oct. 15.

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