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Wells Fargo to price 14.5%-15.5% enhanced yield securities linked to MGM Mirage for Eksportfinans
By Angela McDaniels
Tacoma, Wash., Jan. 20 - Eksportfinans ASA plans to price enhanced yield securities due Aug. 5, 2010 linked to the common stock of MGM Mirage via underwriter Wells Fargo Securities, LLC, according to an FWP filing with the Securities and Exchange Commission.
The six-month notes will carry an annualized coupon of 14.5% to 15.5%, with the exact coupon to be set at pricing. Interest will be payable monthly.
The payout at maturity will be par unless MGM Mirage stock falls by 35% or more during the life of the notes and finishes below the initial share price, in which case investors will receive a number of MGM Mirage shares equal to $1,000 divided by the initial share price.
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