E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 1/2/2008 in the Prospect News Structured Products Daily.

Correction: Wachovia prices $4.61 million 12.75% enhanced yield securities on SanDisk for Eksportfinans

The Jan. 2 issue of the Prospect News Structured Products Daily incorrectly reported the coupon for Eksportfinans ASA's issue of enhanced yield securities linked to SanDisk Corp. stock. The coupon is 12.75%. A corrected version of the story follows:

Chicago, Dec. 31 - Wachovia Capital Markets, LLC priced $4.61 million of 12.75% annualized enhanced yield securities due July 2, 2008 linked to the common stock of SanDisk Corp. for issuer Eksportfinans ASA, according to a 424B3 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless SanDisk stock falls by 30% or more during the life of the notes and the final share price is less than 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.

Issuer:Eksportfinans ASA
Issue:Enhanced yield securities
Underlying stock:SanDisk Corp. (Nasdaq: SNDK)
Amount:$4,614,000
Maturity:July 2, 2008
Coupon:12.75%, payable monthly
Price:Par
Payout at maturity:If SanDisk shares fall to or below the knock-in price during the life of the notes and finish below the initial share price, 29.5421 SanDisk shares; otherwise, par
Initial share price:$33.85
Knock-in price:$23.695, 70% of initial share price
Pricing date:Dec. 27
Settlement date:Jan. 2
Agent:Wachovia Capital Markets, LLC
Fees:1.25%

© 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.