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Eksportfinans plans outperformance notes linked to two stock baskets via Goldman Sachs
By Laura Lutz
Des Moines, Oct. 24 - Eksportfinans ASA plans to price enhanced outperformance notes linked to a basket of 46 "high international demand" stocks and a basket of 49 "low international demand" stocks via underwriter Goldman, Sachs & Co., according to a 424B3 filing with the Securities and Exchange Commission.
The notes are expected to mature 18 to 21 months after issuance.
The stocks in each basket are drawn from the S&P 500 index. The companies' level of international demand is determined based on the percentage of revenues earned outside the United States.
If the performance of the high-demand basket is greater than or equal to the performance of the low-demand basket, the payout at maturity will be par plus double the outperformance amount. The payout will be capped at between 130% and 132% of par. The exact cap will be set at pricing.
Otherwise, the payout will be equal to par minus the amount by which the high-demand basket underperforms the low-demand basket.
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