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Eksportfinans cuts coupon range for enhanced yield securities tied to Peabody Energy to 13%-14%
By Jennifer Chiou
New York, July 22 - Eksportfinans ASA now plans to price 13% to 14% annualized enhanced yield securities due Feb. 5, 2010 linked to the common stock of Peabody Energy Corp. via agent Wells Fargo Securities, LLC, according to an FWP filing with the Securities and Exchange Commission.
The coupon was modified from 16% to 17%. Interest is payable monthly.
The payout at maturity will be par unless Peabody Energy stock falls by 30% or more during the life of the notes and finishes below the initial share price, in which case investors will receive a number of Peabody Energy shares equal to $1,000 divided by the initial share price.
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