Banc of America to price CMS callable range accrual notes for Eksportfinans

By Laura Lutz

Des Moines, Feb. 11 - Eksportfinans ASA plans to price Constant Maturity Swap (CMS) callable range accrual notes due Feb. 28, 2018, according to a 424B3 filing with the Securities and Exchange Commission.

Banc of America Securities LLC is the underwriter.

The interest rate will be a fixed percentage times the proportion of days during the interest period on which the 10-year CMS rate is at least 0% and not more than 6%. The fixed percentage will be at least 7.5% and will be set at pricing.

Interest will be payable quarterly.

The notes will be callable in whole, but not in part, at par on any interest payment date.

If the notes are not called early, the payout at maturity will be par.

The notes are expected to settle on Feb. 28.

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