By Susanna Moon
Chicago, Oct. 14 - Eksportfinans ASA priced $42 million of notes due Oct. 21, 2009 linked to the S&P Goldman Sachs Commodity Index - Total Return via underwriter Morgan Stanley & Co. Inc., according to a 424B3 filing with the Securities and Exchange Commission.
Interest will be Libor minus 24 basis points, payable quarterly.
Payout at maturity will be par plus triple the index return minus the Treasury bill return minus a fee of 0.2% per year.
Investors may redeem the notes, at a minimum amount of $1 million, up to but excluding Oct. 20, 2009.
The notes will be called if the index falls below its trigger level, 85% of initial level, with the payout calculated in the same way as at maturity.
| Issuer: | Eksportfinans ASA
|
| Issue: | Notes
|
| Underlying index: | S&P GSCI Total Return
|
| Amount: | $42 million
|
| Maturity: | Oct. 21, 2009
|
| Coupon: | Libor minus 24 bps, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par plus triple index return minus T-bill return minus fee of 0.2% per year
|
| Call: | Automatically if index falls below trigger of 85% of initial level
|
| Put: | Until Oct. 20, 2009 at a minimum amount of $1 million
|
| Initial index level: | 6,264.552
|
| Pricing date: | Oct. 14
|
| Settlement date: | Oct. 21
|
| Underwriter: | Morgan Stanley & Co. Inc.
|
| Fees: | None
|
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