Merrill Lynch to price Stars linked to MSCI Brazil for Eksportfinans

By Angela McDaniels

Tacoma, Wash., April 22 - Eksportfinans ASA plans to price two-year 0% Strategic Accelerated Redemption Securities linked to the MSCI Brazil index via Merrill Lynch & Co. and First Republic Securities Co., LLC, according to an FWP filing with the Securities and Exchange Commission.

If the index closes at or above the initial index level on an observation date, the notes will be called and investors will receive par of $10 plus an annualized call premium of 14% to 18%. The exact call premium will be set at pricing, and the observation dates are expected to fall in June 2010, November 2010 and May 2011.

If the notes are not called, the payout at maturity will be par if the final index level is at least 80% of the initial level. Otherwise, investors will lose 1% for every 1% that the index falls below 80% of the initial level.

The notes are expected to price in May or June.

The issuer may apply to list the notes on the NYSE Arca under the symbol "BON."

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