Merrill Lynch plans 7.5-month Stars on corn futures for Eksportfinans

By Toni Weeks

San Diego, March 24 - Eksportfinans ASA plans to price 0% Strategic Accelerated Redemption Securities due December 2011 linked to the front month corn futures contract via Merrill Lynch & Co., according to an FWP filing with the Securities and Exchange Commission.

If the price of corn futures finishes at or above its initial level on the observation date in November, the notes will be called at par of $10 plus a premium of 22.4% to 28.8% per year. The exact call premium will be determined at pricing.

Investors will receive par at maturity if the price of corn futures falls by up to 15% and will be exposed to losses beyond 15%.

The notes will price and settle in April.

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