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Goldman Sachs to price notes linked to two baskets of currencies for Eksportfinans
By Angela McDaniels
Tacoma, Wash., Aug. 31 - Eksportfinans ASA plans to price 0% notes linked to two baskets of currencies via underwriter Goldman, Sachs & Co., according to a 424B3 filing with the Securities and Exchange Commission.
The notes will have a tenor of 13 to 15 months.
The first basket includes the Australian dollar, Swedish krona and U.S. dollar, and the second basket includes the Japanese yen and Swiss franc. In each basket, the currencies are equally weighted, and each currency's performance is measured relative to the U.S. dollar. The exchange rate for the U.S. dollar will therefore always equal 1.
If the return of the first basket is greater than the return of the second basket, the payout at maturity will be par plus the difference between the two returns, subject to a maximum return of 13% to 15% that will be set at pricing.
If the return of the first basket is less than the return of the second basket, the payout will be par minus the difference between the two returns, subject to a maximum loss of 10%.
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