New Issue: Wachovia prices $12.63 million 14% enhanced yield securities on Nordstrom for Eksportfinans

By Susanna Moon

Chicago, Dec. 31 - Wachovia Capital Markets, LLC priced $12.63 million of 14% annualized enhanced yield securities due July 2, 2008 linked to the common stock of Nordstrom, Inc. for issuer Eksportfinans ASA, according to a 424B3 filing with the Securities and Exchange Commission.

Interest is payable at maturity.

The payout at maturity, in addition to interest, will be par unless Nordstrom stock falls by 30% 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 Nordstrom shares equal to $1,000 divided by the initial share price.

Issuer:	Eksportfinans ASA
Issue:	Enhanced yield securities
Underlying stock:	Nordstrom, Inc. (NYSE: JWN)
Amount:	$12,632,000
Maturity:	July 2, 2008
Coupon:	14%, payable at maturity
Price:	Par
Payout at maturity:	If Nordstrom shares fall to or below the knock-in price during the life of the notes and finish below the initial share price, 27.7393 Nordstrom shares; otherwise, par
Initial share price:	$36.05
Knock-in price:	$25.235, 70% of initial share price
Pricing date:	Dec. 27
Settlement date:	Jan. 2
Agent:	Wachovia Capital Markets, LLC
Fees:	1.25%

© 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.