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Wachovia to price 0% exchangeables linked to index basket for Eksportfinans
By Angela McDaniels
Seattle, April 24 - Wachovia Capital Markets, LLC plans to price an offering of 0% exchangeable notes due May 25, 2010 linked to a basket of indexes for issuer Eksportfinans ASA, according to a 424B5 filing with the Securities and Exchange Commission.
The basket will include the S&P 500 Composite Stock Price index with a 40% weight, the MSCI EAFE index with a 25% weight, the S&P MidCap 400 index with a 20% weight and the Russell 2000 index with a 15% weight. The initial basket value is expected to be between $900.90 and $909.09 and will be determined at pricing.
Investors may exchange their notes at any time beginning June 15, 2007 for the cash value of the basket.
The notes are callable beginning April 30, 2009. The redemption amount will be the basket value or par, whichever is greater.
If the notes are not called, the payout at maturity will be the greater of the basket value and par.
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