Published on 11/3/2008 in the Prospect News Structured Products Daily.
New Issue: Wachovia prices $7.93 million enhanced growth securities linked to S&P 500 for Eksportfinans
By Angela McDaniels
Tacoma, Wash., Nov. 3 - Eksportfinans ASA priced $7.93 million of 0% enhanced growth securities due Nov. 10, 2010 linked to the S&P 500 index via Wachovia Capital Markets, LLC, according to a 424B3 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index gain, subject to a maximum return of 30%. Investors will receive par if the index falls by 15% or less and will lose 1.17647% for every 1% that the index declines beyond 15%.
Issuer: | Eksportfinans ASA
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Issue: | Enhanced growth securities
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Underlying index: | S&P 500
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Amount: | $7,932,000
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Maturity: | Nov. 10, 2010
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus double any index gain, up to maximum return of 30%; par if index falls by 15% or less; 1.17647% loss for every 1% decline beyond 15%
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Initial index level: | 954.09
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Pricing date: | Oct. 30
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Settlement date: | Nov. 4
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Underwriter: | Wachovia Capital Markets, LLC
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Fees: | 2.25%
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