Wachovia plans absolute return range notes linked to S&P 500 for Eksportfinans

By Jennifer Chiou

New York, May 2 - Eksportfinans ASA plans to price 0% absolute return range notes due Dec. 10, 2009 linked to the S&P 500 index via agent Wachovia Capital Markets, LLC, according to a 424B3 filing with the Securities and Exchange Commission.

If the index is never above the upper barrier or below the lower barrier throughout the life of the notes, the payout at maturity will be par plus the absolute value of the index return. Otherwise, the payout will be par.

The upper and lower barriers are expected to be between 15% and 18% above and below the initial index level, respectively.

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