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Wachovia to price 10%-12% enhanced yield notes linked to Merck for Eksportfinans
By Angela McDaniels
Tacoma, Wash., June 1 - Eksportfinans ASA plans to price enhanced yield securities due Sept. 14, 2009 linked to the common stock of Merck & Co., Inc. via Wachovia Capital Markets, LLC, according to an FWP filing with the Securities and Exchange Commission.
The notes will carry an annualized coupon of 10% to 12%, with the exact percentage to be set at pricing. Interest will be payable monthly.
The payout at maturity will be par unless Merck stock falls by 20% or more during the life of the notes and finishes below the initial share price, in which case investors will receive a number of Merck shares equal to $1,000 divided by the initial share price.
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