Wachovia to price 11.5%-12.5% enhanced yield securities linked to Nucor for Eksportfinans

By Susanna Moon

Chicago, Aug. 19 - Eksportfinans ASA plans to price enhanced yield securities due March 5, 2009 linked to the common stock of Nucor Corp. via Wachovia Capital Markets, LLC, according to an FWP filing with the Securities and Exchange Commission.

The securities will bear interest at 11.5% to 12.5% per year, with the exact coupon to be set at pricing. Interest will be payable monthly.

Payout at maturity will be par unless Nucor stock falls below the knock-in price - 65% 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 Nucor shares equal to $1,000 divided by the initial share price.

Pricing and settlement dates were not disclosed in the filing.

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