Merrill Lynch to price Stars linked to S&P 500 for Eksportfinans

By Angela McDaniels

Tacoma, Wash., Oct. 27 - Eksportfinans ASA plans to price 0% Strategic Accelerated Redemption Securities due December 2012 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The notes will be called at par of $10 plus a call premium of 10% to 14% per year if the index closes at or above its initial level on any of the call dates, which will fall six, nine and 12 months after issuance. The exact call premium will be set at pricing.

If the notes are not called and the final index level is greater than or equal to 95% of the initial index level, the payout at maturity will be par. Investors will lose 1% for every 1% that the index declines below the threshold level.

The notes will price and settle in November.

Bank of America Merrill Lynch is the agent.

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