Merrill plans Accelerated Return Notes on silver for Eksportfinans

By Susanna Moon

Chicago, March 24 - Eksportfinans ASA plans to price 0% Accelerated Return Notes due July 2012 linked to the silver spot price, according to an FWP with the Securities and Exchange Commission.

Merrill Lynch, Pierce, Fenner & Smith Inc. is the underwriter.

The payout at maturity will be par of $10.00 plus triple any gain in the price of silver, up to a cap of $12.60 to $13.00 per note. The exact amount will be set at pricing.

Investors will be exposed to any losses.

The notes are expected to price in April and settle in May.

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