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

By Susanna Moon

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 at maturity.

The payout at maturity, in addition to interest, 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:	22%, payable at maturity
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%

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