Eksportfinans plans absolute return range notes linked to Financial Select SPDR

By Laura Lutz

Des Moines, Dec. 6 - Eksportfinans ASA plans to price absolute return range notes due July 1, 2009 linked to shares of the Financial Select Sector SPDR Fund via Wachovia Capital Markets, LLC, according to a 424B3 filing with the Securities and Exchange Commission.

If the fund stays below the upper barrier and above the lower barrier during the life of the notes, the payout will be par plus the absolute value of the final fund performance.

If the fund ever trades outside the barrier range, the payout will be par.

The upper barrier is expected to be between 122% and 125% of par, and the lower barrier is expected to be between 75% and 78% of par. The exact barriers will be set at pricing.

The notes are expected to price and settle in December.

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