New Issue: Wachovia prices $2.55 million 12.5% enhanced yield notes linked to Dow for Eksportfinans

By Angela McDaniels

Tacoma, Wash., June 17 - Eksportfinans ASA priced $2.55 million of enhanced yield securities due Dec. 18, 2009 linked to the common stock of Dow Chemical Co. via Wachovia Capital Markets, LLC, according to a 424B3 filing with the Securities and Exchange Commission.

The six-month notes pay 6.25% for an annualized coupon of 12.5%. Interest is payable monthly.

The payout at maturity will be par unless Dow stock falls by 40% or more during the life of the notes and finishes below the initial share price, in which case investors will receive a number of Dow shares equal to $1,000 divided by the initial share price.

Issuer:	Eksportfinans ASA
Issue:	Enhanced yield securities
Underlying stock:	Dow Chemical Co. (NYSE: DOW)
Amount:	$2,545,000
Maturity:	Dec. 18, 2009
Coupon:	12.5%, payable monthly
Price:	Par
Payout at maturity:	If Dow stock falls below knock-in price during life of notes and finishes below initial share price, 62.1891 Dow shares; otherwise, par
Initial share price:	$16.08
Knock-in price:	$9.648, 60% of initial price
Pricing date:	June 16
Settlement date:	June 19
Underwriter:	Wachovia Capital Markets, LLC
Fees:	1.25%

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