By Jennifer Chiou
New York, May 25 - Goldman Sachs & Co. priced a $14.109 million add-on to the issue of zero-coupon 98% principal-protected bull notes due May 29, 2008 linked to the performance of the Turkish lira for issuer Eksportfinans ASA, according to a 424B3 filing with the Securities and Exchange Commission.
On May 15, Goldman priced the original $59.738 million of notes. The total amount of notes priced is now $73.847 million.
The payout at maturity will be determined based on the performance of a basket that contains equal weights of the dollar/lira and euro/lira exchange rates. Investors will receive 98% of par plus the product of the absolute value of any negative basket return and the initial dollar/lira exchange rate divided by the final dollar/lira exchange rate. There is a floor of 98% of par. If the Turkish lira gains, the payout on the notes increases.
| Issuer: | Eksportfinans ASA
|
| Issue: | 98% principal-protected bull notes
|
| Underlying basket: | Dollar/Turkish lira and euro/Turkish lira exchange rates, equally weighted
|
| Amount: | $73.847 million, including $14.109 million add-on
|
| Maturity: | May 29, 2008
|
| Coupon: | 0%
|
| Price: | Par for original $59.738 million; 100.9 for add-on
|
| Payout at maturity: | 98% of par plus the product of the absolute value of any negative basket return and the initial dollar/lira exchange rate divided by the final dollar/lira exchange rate; floor of 98% of par
|
| Initial exchange rates: | 1.514 lira per dollar, 2.0689 lira per euro
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| Pricing date: | May 15 for original $59.738 million; May 25 for add-on
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| Settlement date: | May 29
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 0.25%
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