New Issue: Eksportfinans prices $375,000 14.35% reverse convertibles linked to AMD via Natixis

By Laura Lutz

Des Moines, Oct. 16 - Eksportfinans ASA priced a $375,000 issue of 14.35% reverse convertible notes due April 17, 2008 linked to the common stock of Advanced Micro Devices, Inc., according to a 424B3 filing with the Securities and Exchange Commission.

Natixis Securities North America Inc. is the underwriter.

Interest is payable monthly.

At maturity, investors will receive par unless Advanced Micro Devices stock falls below the knock-in price, 70% of the initial price of $13.94, during the life of the notes and finishes below the initial price, in which case the payout will be in Advanced Micro Devices stock, with the number of shares equal to $1,000 divided by the initial share price.

Issuer:	Eksportfinans ASA
Issue:	Reverse convertible notes
Underlying stock:	Advanced Micro Devices, Inc. (Symbol: AMD)
Amount:	$375,000
Maturity:	April 17, 2008
Coupon:	14.35%, payable monthly
Price:	Par
Payout at maturity:	Par in cash if Advanced Micro Devices stock stays at or above the knock-in price of $9.758 or finishes at or above the initial price; otherwise, shares of Advanced Micro Devices stock equal to $1,000 divided by the initial price
Initial price:	$13.94
Knock-in price:	$9.758, 70% of $13.94
Pricing date:	Oct. 12
Settlement date:	Oct. 17
Underwriter:	Natixis Securities North America Inc.
Fees:	2.5%

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