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Wachovia plans absolute return range notes linked to S&P 500 for Eksportfinans
By Jennifer Chiou
New York, Oct. 5 - Eksportfinans ASA plans to price 0% absolute return range notes due April 20, 2009 linked to the S&P 500 index via Wachovia Capital Markets, LLC, according to a 424B5 filing with the Securities and Exchange Commission.
At maturity, investors will receive par plus the absolute value of the index performance if the index never finishes outside of the upper and lower barriers. The absolute return range is expected to be 80% to 82% of the initial level for the lower barrier and 118% to 120% for the upper barrier.
Investors will receive at least par.
The notes will price on Oct. 29 and settle on Nov. 1.
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