New Issue: Goldman Sachs upsizes Asian FX bull notes for Eksportfinans to $18.13 million

By E. Janene Geiss

Philadelphia, July 7 - Eksportfinans ASA priced another $7.21 million of 0% Asian FX bull notes due July 15, 2009 linked to a basket of currencies via Goldman, Sachs & Co., according to a 424B3 filing with the Securities and Exchange Commission.

This brings the total issue to $18.13 million. The issuer priced $10.93 million of the notes in a first tranche on June 23. The second tranche of notes were priced at 99.70.

The basket contains equal weights of the Chinese renminbi, Malaysian ringgit and Singapore dollar. The basket level will increase if the currencies appreciative relative to the U.S. dollar.

If the basket performance is 2% or more, the payout at maturity will be par plus 107.5%. If the basket performance is less than 2%, investors will receive 98% of par.

Issuer:	Eksportfinans ASA
Issue:	98% principal-protected Asian FX bull note
Underlying currencies:	Chinese renminbi, Malaysian ringgit and Singapore dollar, equally weighted
Amount:	$18.13 million, upsized from $10,925,000
Maturity:	July 15, 2009
Coupon:	0%
Price:	Par for first tranche, 99.70 for second tranche
Payout at maturity:	Par plus 107.5% if basket performance is 2% or more; floor of 98% of par
Initial exchange rates:	6.4260 renminbi per U.S. dollar; 3.2315 ringgits per U.S. dollar; 1.3470 Singapore dollars per U.S. dollar
Pricing dates:	June 23 for $10,925,000; July 2 for $7,205,000
Settlement date:	July 8
Underwriter:	Goldman, Sachs & Co.
Fees:	0.25%

© 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.