New Issue: Wachovia prices $2.26 million 20% enhanced yield securities tied to Under Armour for Eksportfinans

By Angela McDaniels

Tacoma, Wash., April 17 - Eksportfinans ASA priced $2.26 million of enhanced yield securities due July 18, 2008 linked to the common stock of Under Armour, Inc. via Wachovia Capital Markets, LLC, according to a 424B3 filing with the Securities and Exchange Commission.

The three-month notes will pay 5% for an annualized coupon of 20%. Interest is payable monthly.

The payout at maturity will be par unless Under Armour stock falls by 30% or more during the life of the notes and finishes below its initial share price, in which case the payout will be a number of Under Armour shares equal to $1,000 divided by the initial share price.

Issuer:	Eksportfinans ASA
Issue:	Enhanced yield securities
Underlying stock:	Under Armour, Inc. (NYSE: UA)
Amount:	$2,255,000
Maturity:	July 18, 2008
Coupon:	20%, payable monthly
Price:	Par
Payout at maturity:	If Under Armour stock trades at or below the knock-in price during the life of the notes and the final share price is less than the initial share price, 29.8507 Under Armour shares; otherwise, par
Initial share price:	$33.50
Knock-in price:	$23.45, 70% of initial share price
Pricing date:	April 15
Settlement date:	April 18
Underwriter:	Wachovia Capital Markets, LLC
Fees:	0.9%

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