By Laura Lutz
Des Moines, Feb. 21 - Eksportfinans ASA priced $3.75 million of 13% enhanced yield securities due Feb. 25, 2009 linked to the common stock of Las Vegas Sands Corp., according to a 424B3 filing with the Securities and Exchange Commission.
Wachovia Capital Markets, LLC is the lead agent.
Interest will be payable monthly.
The payout at maturity will be par unless Las Vegas Sands stock falls below the knock-in price - 65% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Las Vegas Sands shares equal to par divided by the initial share price.
The securities will not be listed on any exchange.
| Issuer: | Eksportfinans ASA
|
| Issue: | Enhanced yield securities
|
| Underlying stock: | Las Vegas Sands Corp. (NYSE: LVS)
|
| Amount: | $3,753,000
|
| Maturity: | Feb. 25, 2009
|
| Coupon: | 13%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless Las Vegas Sands stock falls below knock-in price during life of notes and finishes below initial share price, in which case a number of Las Vegas Sands shares equal to par divided by initial share price
|
| Initial price: | $87.74
|
| Knock-in price: | $57.031, 65% of initial level
|
| Pricing date: | Feb. 19
|
| Settlement date: | Feb. 22
|
| Agent: | Wachovia Capital Markets, LLC
|
| Fees: | 2%
|
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