By Laura Lutz
Des Moines, Jan. 28 - Eksportfinans ASA priced €275 million of euro Constant Maturity Swap (CMS) curve trade notes due Feb. 11, 2011 via Lehman Brothers Inc., according to an FWP filing with the Securities and Exchange Commission.
Until Aug. 11, 2008, the notes will bear interest at 3.5% per year. After that, the payout will be 10 times the amount by which the spread of the 10-year euro CMS rate over the two-year euro CMS rate exceeds 55 basis points.
Interest will be reset and payable quarterly.
The payout at maturity will be par.
| Issuer: | Eksportfinans ASA
|
| Issue: | Euro CMS curve trade notes
|
| Underlying rates: | 10-year and two-year euro CMS rates
|
| Amount: | €275 million
|
| Maturity: | Feb. 11, 2011
|
| Coupon: | 3.5% until Aug. 11, 2008; after that, 10 times amount by which spread of 10-year euro CMS rate over two-year euro CMS rate exceeds 55 bps; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | Jan. 28
|
| Settlement date: | Feb. 11
|
| Agent: | Lehman Brothers Inc.
|
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