New Issue: Merrill Lynch sells $14.4 million Accelerated Return Notes on MSCI EAFE for Eksportfinans

By Jennifer Chiou

New York, May 14 - Eksportfinans ASA priced $14.4 million of 0% Accelerated Return Notes due July 29, 2010 linked to the MSCI EAFE index via Merrill Lynch, Pierce, Fenner & Smith Inc. and First Republic Securities Co., LLC, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus triple any index gain, with the return capped at 23.85%. Investors will be exposed to any losses.

The filing said application was made to list the notes on the NYSE Arca under the symbol "ECV."

Issuer:	Eksportfinans ASA
Issue:	Accelerated Return Notes
Underlying index:	MSCI EAFE
Amount:	$14.4 million
Maturity:	July 29, 2010
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus triple any index gain, capped at 23.85%; exposure to losses
Initial index level:	1,264.13
Pricing date:	May 12
Settlement date:	May 15
Underwriters:	Merrill Lynch, Pierce, Fenner & Smith Inc. and First Republic Securities Co., LLC
Fees:	2%

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