By Laura Lutz
Des Moines, Feb. 21 - Eksportfinans ASA priced $7.07 million of 13.5% enhanced yield securities due Feb. 25, 2009 linked to the common stock of Freeport-McMoRan Copper & Gold Inc., according to a 424B3 filing with the Securities and Exchange Commission.
Wachovia Capital Markets, LLC is the lead agent.
Interest will be payable monthly.
The payout at maturity will be par unless Freeport-McMoRan stock falls below the knock-in price - 70% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Freeport-McMoRan shares equal to par divided by the initial share price.
The securities will not be listed on any exchange.
| Issuer: | Eksportfinans ASA
|
| Issue: | Enhanced yield securities
|
| Underlying stock: | Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX)
|
| Amount: | $7,074,000
|
| Maturity: | Feb. 25, 2009
|
| Coupon: | 13.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless Freeport-McMoRan stock falls below the knock-in price during the life of the notes and finishes below the initial share price, in which case a number of Freeport-McMoRan shares equal to par divided by initial share price
|
| Initial price: | $97.94
|
| Knock-in price: | $68.558, 70% of initial level
|
| Pricing date: | Feb. 19
|
| Settlement date: | Feb. 22
|
| Agent: | Wachovia Capital Markets, LLC
|
| Fees: | 2%
|
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