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Merrill Lynch plans six-month Stars tied to S&P 500 for Eksportfinans
By Marisa Wong
Madison, Wis., May 26 - Eksportfinans ASA plans to price 0% Strategic Accelerated Redemption Securities due December 2011 linked to the S&P 500 index via Merrill Lynch, Pierce, Fenner & Smith Inc., according to an FWP filing with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the notes will be called at par of $10 plus a premium of 5% to 9% that will be determined at pricing.
Otherwise, investors will receive par plus the index return and will be exposed fully to losses.
The notes will price and settle in June.
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