A story in the September 3 issue of Prospect News Structured Products Daily incorrectly reported the underwriting discount for Eksportfinans ASA's $33 million issue of 0.25% annualized enhanced growth securities linked to the common stock of Research In Motion Ltd. A corrected version follows
By Angela McDaniels
Tacoma, Wash., Sept. 2 - Eksportfinans ASA priced $33 million of 0.25% annualized enhanced growth securities due Jan. 16, 2009 linked to the common stock of Research In Motion Ltd. via Wachovia Capital Markets, LLC, according to a 424B5 filing with the Securities and Exchange Commission.
Interest is payable monthly.
If the final share price is greater than the initial share price, the payout at maturity will be par plus double the gain, subject to a maximum return of 30%. Investors will be fully exposed to any share price decline.
| Issuer: | Eksportfinans ASA
|
| Issue: | Enhanced growth securities
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| Underlying stock: | Research In Motion Ltd. (Nasdaq: RIMM)
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| Amount: | $33 million
|
| Maturity: | Jan. 16, 2009
|
| Coupon: | 0.25%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par plus double any share price gain, capped at maximum return of 30%; full exposure to any share price decline
|
| Initial share price: | $126.65
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| Pricing date: | Aug. 28
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| Settlement date: | Sept. 5
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| Underwriter: | Wachovia Capital Markets, LLC
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| Fees: | 0.25%
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