Published on 8/21/2008 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $6.45 million add-on to absolute return notes on S&P 500 for Eksportfinans
By Jennifer Chiou
New York, Aug. 21 - Eksportfinans ASA priced a $6.45 million add-on to its issue of 0% absolute return trigger notes due Nov. 23, 2009 linked to the S&P 500 index via Goldman, Sachs & Co., raising the total issue amount to $26.5 million, according to a 424B3 filing with the Securities and Exchange Commission.
The original $20.05 million of notes priced at par on Aug. 8. The add-on priced at 99.93 on Aug. 19.
If the index is above the upper trigger level or below the lower trigger level at any time during the life of the notes, the payout at maturity will be par. Otherwise, the payout will be par plus the absolute value of the index return.
The upper trigger level is 119.9% of the initial level, and the lower trigger level is 80.1% of the initial level.
Issuer: | Eksportfinans ASA
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Issue: | Absolute return trigger notes
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Underlying index: | S&P 500
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Amount: | $26,496,000 (including $6,445,485 add-on)
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Maturity: | Nov. 23, 2009
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Coupon: | 0%
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Price: | Par for original $20.05 million; 99.93 for add-on
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Payout at maturity: | If index stays within trigger levels, par plus absolute value of index return; otherwise, par
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Initial index level: | 1,266.45
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Upper trigger: | 1,518.474, 119.9% of initial level
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Lower trigger: | 1,014.426, 80.1% of initial level
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Pricing date: | Aug. 8 for original $20.05 million; Aug. 19 for add-on
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Settlement date: | Aug. 22
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Underwriter: | Goldman, Sachs & Co.
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Fees: | 0.25%
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