New Issue: Wachovia prices $17.88 million 15% notes linked to Peabody for Eksportfinans

By Susanna Moon

Chicago, Nov. 5 - Wachovia Capital Markets, LLC priced $17.88 million of 15% enhanced yield securities due May 5, 2008 linked to Peabody Energy Corp. common stock for issuer Eksportfinans ASA, according to a 424B5 filing with the Securities and Exchange Commission.

Interest is payable quarterly.

The payout at maturity will be par unless the stock falls by more than 20% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Peabody shares equal to $1,000 divided by the initial share price.

Issuer:	Eksportfinans ASA
Issue:	Enhanced yield securities
Underlying stock:	Peabody Energy Corp. (NYSE: BTU)
Amount:	$17,884,000
Maturity:	May 5, 2008
Coupon:	15%, payable quarterly
Price:	Par
Payout at maturity:	If the stock falls below the knock-in price during the life of the notes and finishes below the initial share price, 20.2143 Peabody shares; otherwise, par
Initial share price:	$49.47
Knock-n price:	$39.576, or 80% of initial share price
Pricing date:	Nov. 1
Settlement date:	Nov. 6
Agent:	Wachovia Capital Markets, LLC
Fees:	1.25%

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