Banc of America to price Libor range accrual notes for Eksportfinans

By Jennifer Chiou

New York, Dec. 13 - Eksportfinans ASA plans to price range accrual notes due Dec. 28, 2017 linked to six-month Libor via agent Banc of America Securities LLC, according to a 424B3 filing with the Securities and Exchange Commission.

For each three-month interest period, interest will accrue at a base rate times the proportion of days that Libor is at least 0% and below an upper barrier to be determined at pricing.

The base rate is 6.25% for the first three years and 8% thereafter.

The notes are callable at par plus accrued interest on any interest payment date.

If the notes are not called, the payout at maturity will be par plus accrued interest, if any.

The notes are expected to settle on Dec. 28.

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