Wells Fargo plans access notes linked to metals fund for Eksportfinans

By Toni Weeks

San Diego, July 5 - Eksportfinans ASA plans to price 0% autocallable access securities with fixed percentage buffered downside due Aug. 1, 2013 linked to the SPDR S&P Metals and Mining fund 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 fund's closing share price is greater than the initial share price on any of the call dates. The premium is 8% to 10% for the first call date of Aug. 1, 2012, 12% to 15% for the second call date of Feb. 1, 2013 and 16% to 20% on the final call date of July 25, 2013. The exact call premiums will be determined at pricing.

If the notes are not called and the fund's final share price is at least 90% of the initial level, the payout at maturity will be par. Investors will lose 1% for every 1% that the fund declines beyond 10%.

The notes are expected to price in July and settle in August.

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