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Natixis plans 16% reverse convertibles linked to Potash Corp. for Eksportfinans
By Jennifer Chiou
New York, Aug. 6 - Eksportfinans ASA plans to price 16% annualized reverse convertible notes due March 2, 2009 linked to the common stock of Potash Corp. of Saskatchewan Inc. via Natixis Securities North America Inc., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
If Potash Corp. stock falls below the knock-in price - 70% 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 Potash Corp. 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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