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Wachovia to price 14%-15% enhanced yield securities linked to Ford for Eksportfinans
By Angela McDaniels
Tacoma, Wash., May 20 - Eksportfinans ASA plans to price enhanced yield securities due Dec. 5, 2008 linked to the common stock of Ford Motor Co. via underwriter Wachovia Capital Markets, LLC, according to an FWP filing with the Securities and Exchange Commission.
The notes will carry an annualized coupon of 14% to 15%, with the exact rate to be set at pricing. Interest will be payable monthly.
The payout at maturity will be par unless Ford stock falls by 35% or more during the life of the notes and the final share price is less than the initial share price, in which case the payout will be a number of Ford shares equal to $1,000 divided by the initial share price.
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