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Natixis plans 19.2% reverse convertibles linked to Capital One for Eksportfinans
By Jennifer Chiou
New York, Aug. 6 - Eksportfinans ASA plans to price 19.2% annualized reverse convertible notes due Dec. 1, 2008 linked to the common stock of Capital One Financial Corp. via Natixis Securities North America Inc., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
If Capital One stock falls below the knock-in price - 60% 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 Capital One shares equal to par divided by the initial share price.
Otherwise, the payout will be par.
The notes are expected to price on Aug. 26 and settle on Aug. 29.
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