By Marisa Wong
Madison, Wis., June 23 - Eksportfinans ASA priced $6.21 million of 0% Strategic Accelerated Redemption Securities due Nov. 23, 2011 linked to the front month palladium futures contract via Bank of America Merrill Lynch, according to a 424B2 filing with the Securities and Exchange Commission.
If the price of palladium futures closes at or above the initial price on Nov. 16, the securities will be called at par of $10 plus an annualized premium of 26.52% per year.
If the notes are not called, the payout at maturity will be par plus the palladium return. Investors will be exposed to any losses.
| Issuer: | Eksportfinans ASA
|
| Issue: | Strategic Accelerated Redemption Securities
|
| Underlying commodity: | Front month palladium futures contract
|
| Amount: | $6,207,950
|
| Maturity: | Nov. 23, 2011
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus palladium return; full exposure to losses
|
| Call: | At par plus 26.52% per year if futures price closes at or above initial price on Nov. 16
|
| Initial price: | $764.75
|
| Pricing date: | June 21
|
| Settlement date: | July 1
|
| Agent: | Bank of America Merrill Lynch
|
| Fees: | 1%
|
| Cusip: | 28264M491
|
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