By Jennifer Chiou
New York, July 24 - Goldman Sachs & Co. priced a $5.209 million add-on to its issue of zero-coupon 98% principal-protected bull notes due July 27, 2008 linked to the performance of the Turkish lira for issuer Eksportfinans ASA, according to a 424B3 filing with the Securities and Exchange Commission.
Goldman Sachs originally priced $13.482 million of the notes on July 13, for a total issue amount of $18.691 million.
The payout at maturity will be determined based on the performance of a basket that contains equal weights of the dollar/lira and euro/lira exchange rates. Investors will receive 98% of par plus the product of the absolute value of any negative basket return and the initial dollar/lira exchange rate divided by the final dollar/lira exchange rate. There is a floor of 98% of par. If the Turkish lira gains, the payout on the notes increases.
| Issuer: | Eksportfinans ASA
|
| Issue: | 98% principal-protected bull notes
|
| Underlying basket: | Dollar/Turkish lira and euro/Turkish lira exchange rates, equally weighted
|
| Amount: | $18.691 million total, including $5.209 million add-on
|
| Maturity: | July 27, 2008
|
| Coupon: | 0%
|
| Price: | Par for original $13.482 million; 100.40 for add-on
|
| Payout at maturity: | 98% of par plus the product of the absolute value of any negative basket return and the initial dollar/lira exchange rate divided by the final dollar/lira exchange rate; floor of 98% of par
|
| Initial exchange rates: | 1.4159 lira per dollar, 1.9664 lira per euro
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| Pricing date: | July 13 for original $13.482 million; July 20 for add-on
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| Settlement date: | July 27
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 0.25%
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