By Laura Lutz
Des Moines, Jan. 11 - Eksportfinans ASA priced $22 million of notes due Jan. 26, 2009 linked to the S&P Diversified Trends Indicator - Total Return via Goldman, Sachs & Co., according to an FWP filing with the Securities and Exchange Commission.
The notes will bear interest at Libor plus 30 basis points, reset quarterly. Interest will be payable quarterly.
They will be called early if the index closes below 85% of its initial level on any day during the life of the notes.
Holders will be able to put the notes, in whole but not in part, until Jan. 26, 2009.
Upon redemption or at maturity, investor will receive par plus 300% of any return on the index - whether that return is positive or negative -minus a fee amount of 1.5% per year minus a Treasury bill amount.
The T-bill amount will be equal to the accrued product of the daily T-bill Auction High Rates throughout the life of the notes.
| Issuer: | Eksportfinans ASA
|
| Issue: | Notes
|
| Underlying index: | S&P DTI-TR index
|
| Amount: | $22 million
|
| Maturity: | Jan. 26, 2009
|
| Coupon: | Libor plus 30 bps, reset and payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par plus 300% of any index return minus fee amount of 1.5% per year minus accrued product of daily T-bill Auction High Rates
|
| Call: | If index falls below 85% of initial level; calculated same as payout at maturity
|
| Put: | Until Jan. 26, 2009; calculated same as payout at maturity
|
| Initial level: | 1,483.756
|
| Call level: | 1,261.193, 85% of initial level
|
| Pricing date: | Jan. 9
|
| Settlement date: | Jan. 16
|
| Underwriter: | Goldman, Sachs & Co.
|
| Fees: | 0.25%
|
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