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Morgan Stanley to sell 10%-14% RevCons on Broadcom for Eksportfinans
By Susanna Moon
Chicago, Nov. 9 - Eksportfinans ASA plans to price 10% to 14% annualized reverse convertible notes due May 25, 2010 linked to the common stock of Broadcom Corp., according to an FWP filing with the Securities and Exchange Commission.
Morgan Stanley & Co. Inc. is the agent.
Interest will be payable monthly.
If Broadcom stock falls below the knock-in price - 75% of the initial share price - during the life of the notes and finishes below the initial price, the payout at maturity will be a number of Broadcom shares equal to par divided by the initial share price.
Otherwise, the payout will be par.
The notes are expected to price on Nov. 20 and settle on Nov. 25.
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