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Eksportfinans to price 13.05% reverse convertibles linked to Las Vegas Sands
By Susanna Moon
Chicago, Aug. 6 - Eksportfinans ASA plans to price an issue of 13.05% reverse convertible notes due Feb. 29, 2008 linked to Las Vegas Sands Corp. common stock, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par unless the stock falls below the knock-in price - 75% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Las Vegas Sands shares equal to $1,000 divided by the initial share price.
The notes will price on Aug. 24 and settle on Aug. 29.
Natixis Securities North America Inc. will be the agent.
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