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Wells Fargo to sell enhanced growth notes on S&P 500 for Eksportfinans
By Susanna Moon
Chicago, Jan. 11 - Eksportfinans ASA plans to price 0% enhanced growth securities with leveraged upside and buffered downside due April 5, 2012 based on the performance of the S&P 500 index, according to a 424B3 filing with the Securities and Exchange Commission.
Wells Fargo Securities, LLC is the agent.
The payout at maturity will be par plus 1.5 times any index gain, up to a maximum return of 18% to 23% with the exact cap to be set at pricing.
Investors will receive par if the index declines by 10% or less and will lose 1.1111% for every 1% that it declines beyond 10%.
The notes will price in January and settle in February.
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