Wachovia to price 18%-22% enhanced yield securities linked to Citigroup for Eksportfinans

By Angela McDaniels

Tacoma, Wash., Dec. 10 - Wachovia Capital Markets, LLC plans to price enhanced yield securities due March 20, 2008 linked to the common stock of Citigroup Inc. for issuer Eksportfinans ASA, according to an FWP filing with the Securities and Exchange Commission.

The notes will accrue interest at 18% to 22% per year, with the exact coupon to be determined at pricing. Interest will be payable at maturity.

The payout at maturity, in addition to interest, will be par unless Citigroup stock falls by 20% or more during the life of the notes and the final share price is less than the initial share price, in which case the payout will be a number of Citigroup shares equal to $1,000 divided by the initial share price.

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