Published on 1/31/2011 in the Prospect News Structured Products Daily.
New Issue: Eksport prices $63.17 million Accelerated Return Notes on Financial Select Sector index
By Jennifer Chiou
New York, Jan. 31 - Eksportfinans ASA priced $63.17 million of 0% Accelerated Return Notes due March 30, 2012 linked to the Financial Select Sector index via Merrill Lynch, Pierce, Fenner & Smith Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10.00 plus triple any gain in the index, up to a maximum payment of $11.885 per note.
Investors will be exposed to any losses.
Issuer: | Eksportfinans ASA
|
Issue: | Accelerated Return Notes
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Underlying index: | Financial Select Sector
|
Amount: | $63,167,770
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Maturity: | March 30, 2012
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Coupon: | 0%
|
Price: | Par of $10
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Payout at maturity: | Par plus 300% of any index gain, capped at 18.85%; exposure to any losses
|
Initial level: | 165.05
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Pricing date: | Jan. 27
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Settlement date: | Nov. 4
|
Underwriter: | Merrill Lynch, Pierce, Fenner & Smith Inc.
|
Fees: | 2%
|
Cusip: | 28264M863
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