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Wachovia plans absolute return range notes linked to S&P 500 for Eksportfinans
By Susanna Moon
Chicago, July 15 - Eksportfinans ASA plans to price 0% absolute return range notes due Oct. 23, 2009 linked to the S&P 500 index via 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 barrier is expected to be 117% to 119% of the initial index level, and the lower barrier is expected to be 81% to 83% of the initial level. The exact barriers will be set at pricing.
Pricing and settlement dates were not disclosed in the filing.
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