By Laura Lutz
Des Moines, Feb. 21 - Eksportfinans ASA priced $9.7 million of 13% enhanced yield securities due Aug. 25, 2008 linked to the common stock of Apple Inc., according to a 424B3 filing with the Securities and Exchange Commission.
Wachovia Capital Markets, LLC is the lead agent.
Interest will be payable monthly.
The payout at maturity will be par unless Apple stock falls below the knock-in price - 70% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Apple shares equal to $1,000 divided by the initial share price.
The securities will not be listed on any exchange.
| Issuer: | Eksportfinans ASA
|
| Issue: | Enhanced yield securities
|
| Underlying stock: | Apple Inc. (Nasdaq: AAPL)
|
| Amount: | $9,702,000
|
| Maturity: | Aug. 25, 2008
|
| Coupon: | 13%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless Apple stock falls below knock-in price during life of notes and finishes below initial share price, in which case a number of Apple shares equal to par divided by initial share price
|
| Initial price: | $122.42
|
| Knock-in price: | $85.694, 70% of initial level
|
| Pricing date: | Feb. 19
|
| Settlement date: | Feb. 22
|
| Agent: | Wachovia Capital Markets, LLC
|
| Fees: | 1.25%
|
© 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.
