New Issue: Merrill Lynch prices $30.59 million Stars tied to corn futures for Eksportfinans

By Marisa Wong

Madison, Wis., Feb. 8 - Eksportfinans ASA priced $30.59 million of 0% Strategic Accelerated Redemption Securities due Dec. 2, 2011 linked to the front-month corn futures contract traded on CME via Merrill Lynch, Pierce, Fenner & Smith Inc., according to a 424B2 filing with the Securities and Exchange Commission.

If the final price of the futures contract is greater than or equal to the initial price, the notes will be automatically called at par of $10 plus a premium of 17%.

If the notes are not called and the final price is at least 85% of the initial price, the payout at maturity will be par. Investors will lose 1% for every 1% that the final price is below the threshold value.

Issuer:	Eksportfinans ASA
Issue:	Strategic Accelerated Redemption Securities
Underlying:	Front-month corn futures contract (Symbol: C 1)
Amount:	$30,585,960
Maturity:	Dec. 2, 2011
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par if final price is at least 85% of initial price; investors will share in losses beyond threshold
Call:	Automatically at par plus 17% if final price of futures contract is above initial price
Initial price:	$678.50
Pricing date:	Feb. 4
Settlement date:	Feb. 11
Underwriter:	Merrill Lynch, Pierce, Fenner & Smith Inc.
Fees:	1.25%
Cusip:	28264M822

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.