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Eksportfinans to price 10% callable securities linked to Apple via Wachovia
By Laura Lutz
Des Moines, Dec. 14 - Eksportfinans ASA plans to price 10% callable enhanced yield securities due Jan. 5, 2009 linked to Apple Inc. common stock via agent Wachovia Capital Markets, LLC, according to a 424B5 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be callable beginning on July 1, 2008. The call price will be an amount in cash that, together with the interest paid to and including the call date, gives a specified yield to call. The yield to call, which will be set at pricing, is expected to be between 30% and 35% per year.
If the notes are not called early, the payout at maturity will be a number of Apple shares equal to par divided by the initial price of Apple stock.
The notes are expected to price and settle in December.
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