New Issue: Wells prices $4.48 million 11.75% enhanced yield notes on Chesapeake Energy for Eksport

By Jennifer Chiou

New York, Jan. 21 - Eksportfinans ASA priced $4.48 million of 11.75% annualized enhanced yield securities due April 21, 2010 linked to the common stock of Chesapeake Energy Corp. via Wells Fargo Securities, LLC, according to a 424B3 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless Chesapeake Energy stock falls by 20% or more during the life of the notes and finishes below the initial share price, in which case investors will receive a number of Chesapeake Energy shares equal to $1,000 divided by the initial share price.

Issuer:	Eksportfinans ASA
Issue:	Enhanced yield securities
Underlying stock:	Chesapeake Energy Corp. (NYSE: CHK)
Amount:	$4,478,000
Maturity:	April 21, 2010
Coupon:	11.75%, payable monthly
Price:	Par
Payout at maturity:	If Chesapeake Energy stock falls to or below the knock-in price during the life of the notes and finishes below the initial price, 35.4484 Chesapeake Energy shares; otherwise, par
Initial share price:	$28.21
Knock-in price:	$22.568, 80% of initial price
Pricing date:	Jan. 19
Settlement date:	Jan. 22
Underwriter:	Wells Fargo Securities, LLC
Fees:	0.9%
Cusip:	282645TT7

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