New Issue: Wachovia prices $3.69 million access notes linked to Financial Select SPDR for Eksportfinans

By Susanna Moon

Chicago, April 1 - Eksportfinans ASA priced $3.69 million of 0% callable access securities with buffered downside due April 5, 2013 linked to shares of the Financial Select Sector SPDR fund via agent Wachovia Capital Markets, LLC, according to a 424B5 filing with the Securities and Exchange Commission.

Eksportfinans will have the right to call the notes on quarterly call dates beginning on Oct. 5, 2010. The call price for the first call date will be $17.53 and will increase by $0.75 on each subsequent call date.

Payout at maturity will be par of $10.00 plus any gain in the fund. If the fund price falls by up to 20%, the payout will be par. Investors will lose 1.25% for each 1% that the fund declines beyond 20%.

Issuer:	Eksportfinans ASA
Issue:	Callable access securities with buffered downside
Underlying fund:	Financial Select Sector SPDR fund
Amount:	$3,691,000
Maturity:	April 5, 2013
Coupon:	0%
Price:	Par of $10.00
Payout at maturity:	Par plus any gain in the fund; if price falls by up to 20%, par; loss of 1.25% for each 1% decline beyond 20%
Call:	Beginning Oct. 5, 2010, call price is $17.53, rising by $0.75 on each subsequent quarterly call date
Initial fund level:	$24.64
Buffer level:	$19.712, or 80% of initial price
Pricing date:	March 28
Settlement date:	April 2
Agent:	Wachovia Capital Markets, LLC
Fees:	2.75%

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.