Published on 5/31/2011 in the Prospect News Structured Products Daily.
New Issue: Merrill Lynch prices $16.33 million Accelerated Return Notes tied to gold for Eksportfinans
By Toni Weeks
San Diego, May 31 - Eksportfinans ASA priced $16.33 million of 0% Accelerated Return Notes due Aug. 2, 2012 linked to the gold spot price, according to a 424B2 filing with the Securities and Exchange Commission.
Bank of America Merrill Lynch is the underwriter.
The payout at maturity will be par of $10.00 plus triple any gain in the price of gold, capped at 15.6%.
Investors will be fully exposed to losses.
| Issuer: | Eksportfinans ASA
|
| Issue: | Accelerated Return Notes
|
| Underlying component: | Gold spot price
|
| Amount: | $16,330,360
|
| Maturity: | Aug. 2, 2012
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 300% of any gain, capped at 15.6%; exposure to losses
|
| Initial level: | $1,518.50
|
| Pricing date: | May 26
|
| Settlement date: | June 3
|
| Underwriter: | Bank of America Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 28264M616
|
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