Wachovia to price 12% to 13% reverse exchangeables linked to SanDisk for Eksportfinans

By Jennifer Chiou

New York, Dec. 3 - Wachovia Capital Markets, LLC plans to price reverse exchangeable notes with contingent downside protection due July 2, 2008 linked to the performance of SanDisk Corp. stock for Eksportfinans ASA, according to an FWP filing with the Securities and Exchange Commission.

The coupon is expected to be 12% to 13% and will be determined at pricing. Interest will be payable monthly.

The payout at maturity will be par unless SanDisk stock falls below the knock-in price - 70% 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 SanDisk shares equal to $1,000 divided by the initial share price.

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