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Wells Fargo plans to sell 12.5%-13.5% enhanced yield notes linked to Arch Coal for Eksportfinans
By Susanna Moon
Chicago, Jan. 7 - Eksportfinans ASA plans to price 12.5% to 13.5% annualized enhanced yield securities with contingent downside protection due July 21, 2010 based on the common stock of Arch Coal Inc., according to a 424B3 filing with the Securities and Exchange Commission.
Wells Fargo Securities, LLC is the agent.
Interest is payable monthly.
The payout at maturity will be par unless Arch Coal stock falls by 25% or more during the life of the notes and finishes below the initial share price, in which case investors will receive a number of Arch Coal shares equal to $1,000 divided by the initial share price.
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