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Wachovia to price 19%-20% enhanced yield securities linked to SanDisk for Eksportfinans
By Susanna Moon
Chicago, March 4 - Wachovia Capital Markets, LLC plans to price enhanced yield securities due Sept. 25, 2008 linked to the common stock of SanDisk Corp. for issuer Eksportfinans ASA, according to an FWP filing with the Securities and Exchange Commission.
The notes will accrue interest at 19% to 20% per year, with the exact coupon to be set at pricing. Interest will be payable monthly.
The payout at maturity will be par unless SanDisk stock falls by 25% or more during the life of the notes and the final share price is less than the initial share price, in which case the payout will be a number of SanDisk shares equal to $1,000 divided by the initial share price.
The notes will price and settle sometime in 2008.
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