By Susanna Moon
Chicago, March 6 - Eksportfinans ASA priced $1.5 million of 0% real return barrier notes due March 9, 2011 linked to the Russell 2000 index, according to a 424B3 filing with the Securities and Exchange Commission.
Deutsche Bank Securities Inc. is the agent.
If the index is above its initial level and has never closed above its barrier - 155% of the initial level - investors will receive par plus 185% of any gain plus an inflation adjustment based on the change in the Consumer Price Index.
Investors will receive par plus the inflation adjustment if the index falls by up to 25% and will receive par plus the inflation adjustment and will share in any index decline beyond 25%.
If the index ever closes above its barrier and finishes at or above its initial level, investors will receive par plus a rebate amount of 25% in addition to the inflation adjustment.
If the index ever closes above its barrier but finishes at less than 75% of its initial level, investors will receive par plus 25% and the inflation adjustment, sharing in losses beyond the 25% buffer amount.
Investors will be exposed to any index decline.
| Issuer: | Eksportfinans ASA
|
| Issue: | Real return barrier note
|
| Underlying index: | Russell 2000
|
| Amount: | $1.5 million
|
| Maturity: | March 9, 2011
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If never closes above barrier, par plus 185% of any gain plus inflation adjustment based on CPI; par plus inflation adjustment if index falls by up to 25% and will receive par plus inflation adjustment and share in any decline beyond 25%; if index ever closes above barrier and finishes at or above initial level, par plus a rebate amount of 25% and inflation adjustment; if index ever closes above barrier but finishes at less than 75% of initial level, par plus 25% and inflation adjustment, sharing in losses beyond 25% buffer
|
| Initial index level: | 371.3
|
| Barrier level: | 575.515, 155% of initial level
|
| Pricing date: | March 4
|
| Settlement date: | March 9
|
| Agent: | Deutsche Bank Securities Inc.
|
| Fees: | 0.35%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
