New Issue: Wachovia sells $2.48 million 13% enhanced notes on Freeport-McMoRan for Eksportfinans

By Susanna Moon

Chicago, June 2 - Eksportfinans ASA priced $2.48 million of 13% enhanced yield securities due Dec. 10, 2009 linked to the common stock of Freeport-McMoRan Copper & Gold Inc. via Wachovia Capital Markets, LLC, according to a 424B3 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless Freeport-McMoRan stock falls by 40% or more 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 $1,000 divided by the initial share price.

Issuer:	Eksportfinans ASA
Issue:	Enhanced yield securities
Underlying stock:	Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX)
Amount:	$2,484,000
Maturity:	Dec. 10, 2009
Coupon:	13%, payable monthly
Price:	Par
Payout at maturity:	If Freeport-McMoRan stock falls to or below the knock-in price during the life of the notes and the final share price is less than the initial share price, 18.3722 Freeport-McMoRan shares; otherwise, par
Initial share price:	$54.43
Knock-in price:	$32.658, or 60% of initial price
Pricing date:	May 29
Settlement date:	June 3
Underwriter:	Wachovia Capital Markets, LLC
Fees:	1.25%

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