By Jennifer Chiou
New York, Jan. 3 - Eksportfinans ASA priced $5 million of 0% autocallable access securities with fixed percentage buffered downside due Jan. 4, 2013 linked to the S&P 500 index via Wells Fargo Securities, LLC, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a premium if the index closes at or above the initial level on any of three call dates. The premium is 7% if the notes are called on Jan. 4, 2012, 10.5% if called on July 5, 2012 and 14% if called on Dec. 27, 2012.
If the notes are not called and the index has not declined by more than 10%, the payout at maturity will be par. Investors will lose 1% for every 1% that the index declines beyond 10%.
| Issuer: | Eksportfinans ASA
|
| Issue: | Autocallable access securities
|
| Underlying index: | S&P 500
|
| Amount: | $5 million
|
| Maturity: | Jan. 4, 2013
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par if index has not declined by more than 10%; otherwise, 1% loss for every 1% that index declines beyond 10%
|
| Call: | Automatically at par plus 7% per year if index closes at or above initial level on any of the call dates
|
| Initial index level: | 1,257.88
|
| Pricing date: | Dec. 30
|
| Settlement date: | Jan. 4
|
| Underwriter: | Wells Fargo Securities, LLC
|
| Fees: | 2.25%
|
| Cusip: | 282645VJ6
|
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