Eksportfinans plans 0% PLUS notes linked to Financial Select Sector SPDR via Morgan Stanley

By Laura Lutz

Des Moines, Feb. 6 - Eksportfinans ASA plans to price 0% Performance Leveraged Upside Securities (PLUS) due March 20, 2009 linked to shares of the Financial Select Sector SPDR index fund, according to an FWP filing with the Securities and Exchange Commission.

Morgan Stanley & Co. Inc. is the agent.

If the final share price is at least the initial price, the payout will be par plus 300% of any gain on the index, capped at a maximum payout that will be between 120% and 124% of par.

The exact cap will be set at pricing.

If the final level of the shares is less than the initial price, the payout will be par times the performance of the shares.

The notes are expected to price and settle in February.

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