Published on 9/3/2009 in the Prospect News Structured Products Daily.
New Issue: Goldman Sachs prices $67.73 million notes tied to two currency baskets for Eksportfinans
By Angela McDaniels
Tacoma, Wash., Sept. 3 - Eksportfinans ASA priced $67.73 million of 0% currency relative value-linked notes due Dec. 2, 2010 linked to two baskets of currencies via underwriter Goldman, Sachs & Co., according to a 424B3 filing with the Securities and Exchange Commission.
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 15%.
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%.
| Issuer: | Eksportfinans ASA
|
| Issue: | Currency relative value-linked notes
|
| First currency basket: | Australian dollar, Swedish krona and U.S. dollar, equally weighted
|
| Second currency basket: | Japanese yen and Swiss franc, equally weighted
|
| Amount: | $67,726,000
|
| Maturity: | Dec. 2, 2010
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If first basket's return is greater than second basket's return, par plus the difference, up to a maximum return of 15%; otherwise, par minus the difference, up to a maximum loss of 10%
|
| Initial exchange rates: | 1.1926 Australian dollars per U.S. dollar; 7.1520 Swedish kronor per U.S. dollar; 93.25 yen per U.S. dollar; 1.0587 Swiss francs per U.S. dollar
|
| Pricing date: | Sept. 1
|
| Settlement date: | Sept. 16
|
| Underwriter: | Goldman, Sachs & Co.
|
| Fees: | 0.25%
|
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