Wells Fargo to price 15%-16% enhanced yield securities linked to Bank of America for Eksportfinans

By Angela McDaniels

Tacoma, Wash., Aug. 20 - Eksportfinans ASA plans to price enhanced yield securities due March 5, 2010 linked to the common stock of Bank of America Corp. via underwriter Wells Fargo Securities, LLC, according to an FWP filing with the Securities and Exchange Commission.

The notes will carry an annualized coupon of 15% to 16%, with the exact coupon to be set at pricing. Interest will be payable monthly.

The payout at maturity will be par unless Bank of America stock falls by 30% or more during the life of the notes and finishes below the initial share price, in which case investors will receive a number of Bank of America shares equal to $1,000 divided by the initial share price.

© 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.