New Issue: Wachovia prices $1.75 million 0% enhanced growth securities on S&P 500 for Eksportfinans

By Jennifer Chiou

New York, July 1 - Eksportfinans ASA priced $1.75 million of 0% enhanced growth securities with leveraged upside and buffered downside due Oct. 5, 2010 linked to the S&P 500 index via underwriter Wachovia Capital Markets, LLC, according to a 424B3 filing with the Securities and Exchange Commission.

If the final index level is greater than the initial level, the payout at maturity will be par plus double the gain, subject to a maximum payout of $1,150 per $1,000 principal amount of notes.

Investors will receive par for losses up to 10% and will share in losses at 1.1111% per 1% drop beyond 10%.

Issuer:	Eksportfinans ASA
Issue:	Enhanced growth securities with leveraged upside and buffered downside
Underlying index:	S&P 500
Amount:	$1,748,000
Maturity:	Oct. 5, 2010
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus double any index gain, up to maximum return of 15%; investors will receive par for losses up to 10% and will share in losses at 1.1111% per 1% drop beyond 10%
Initial index level:	927.23
Buffer level:	834.51, 90% of initial level
Pricing date:	June 29
Settlement date:	July 2
Underwriter:	Wachovia Capital Markets, LLC
Fees:	1.5%

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