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Wachovia to sell 16%-17% enhanced yield securities linked to Chesapeake Energy for Eksportfinans
By Jennifer Chiou
New York, July 23 - Eksportfinans ASA plans to price 16% to 17% annualized enhanced yield securities due Feb. 5, 2009 linked to the common stock of Chesapeake Energy Corp. via agent Wachovia Capital Markets, LLC, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable monthly.
Payout at maturity will be par unless Chesapeake Energy stock falls by 30% or more during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Chesapeake Energy shares equal to $1,000 divided by the initial share price.
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