Wells Fargo to price autocallable access notes linked to S&P 500 for Eksportfinans

By Angela McDaniels

Tacoma, Wash., Dec. 1 - Eksportfinans ASA plans to price 0% autocallable access securities with fixed percentage buffered downside due Jan. 4, 2013 linked to the S&P 500 index via Wells Fargo Securities, LLC, according to a 424B5 filing with the Securities and Exchange Commission.

The notes will be automatically called at par plus a premium if the index closes at or above the initial level on Jan. 4, 2012, July 5, 2012 or Dec. 27, 2012. The premium is expected to be 7% to 9% per year and will be set at pricing.

If the notes are not called and the index has not declined by more than 10%, the payout at maturity will be par. Investors will lose 1% for every 1% that the index declines beyond 10%.

The notes are expected to price in December and settle in January.

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