Published on 7/2/2009 in the Prospect News Structured Products Daily.
New Issue: Eksportfinans prices $1.89 million 17% enhanced yield securities on Research In Motion
By Jennifer Chiou
New York, July 2 - Eksportfinans ASA priced $1.89 million of 17% annualized enhanced yield securities due Jan. 5, 2010 linked to the common stock of Research In Motion Ltd., Inc. via agent Wachovia Capital Markets, LLC, according to a 424B3 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless Research In Motion stock falls by 30% or more during the life of the notes and finishes below the initial share price, in which case investors will receive a number of Research In Motion shares equal to $1,000 divided by the initial share price.
Issuer: | Eksportfinans ASA
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Issue: | Enhanced yield securities
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Underlying stock: | Research In Motion Ltd., Inc. (Nasdaq: RIMM)
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Amount: | $1,889,000
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Maturity: | Jan. 5, 2010
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Coupon: | 17%, payable monthly
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Price: | Par
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Payout at maturity: | If Research In Motion stock falls to or below the knock-in price during the life of the notes and finishes below the initial price, 14.0746 Research In Motion shares; otherwise, par
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Initial share price: | $71.05
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Knock-in price: | $49.735, 70% of initial price
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Pricing date: | June 30
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Settlement date: | July 6
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Agent: | Wachovia Capital Markets, LLC
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Fees: | 1.25%
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