By Laura Lutz
Des Moines, Jan. 18 - Eksportfinans ASA priced $5 million of range notes due Feb. 12, 2013 linked to the six-month Libor via underwriter Lehman Brothers Inc., according to an FWP filing with the Securities and Exchange Commission.
For each quarter, interest will accrue at 6% times the proportion of days that the accrual condition is satisfied.
The accrual conditional will be satisfied if the Libor is no more than 2% or if the rolling Sifma/Libor ratio is no more than 74%. The Sifma/Libor ratio will be the average of the weekly Sifma rates for the previous year divided by the average of the weekly Libor for the same period.
The notes are callable at par plus accrued interest on any interest payment date beginning on Aug. 12, 2008.
If the notes are not called, the payout at maturity will be par plus accrued interest, if any.
| Issuer: | Eksportfinans ASA
|
| Issue: | Range accrual notes
|
| Underlying rates: | Libor, Sifma rate
|
| Amount: | $5 million
|
| Maturity: | Feb. 12, 2013
|
| Coupon: | 6% times proportion of days that Libor is no more than 2% or one-year average of weekly Sifma rates divided by one-year average of weekly Libor is no more than 74%
|
| Price: | Par
|
| Payout at maturity: | Par plus accrued interest
|
| Call: | At par on any interest date beginning on Aug. 12, 2008
|
| Pricing date: | Jan. 18
|
| Settlement date: | Feb. 12
|
| Underwriter: | Lehman Brothers Inc.
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
