Published on 1/29/2010 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo sells $1.18 million enhanced growth securities on S&P 500 for Eksportfinans
By Jennifer Chiou
New York, Jan. 29 - Eksportfinans ASA priced $1.18 million of 0% enhanced growth securities with leveraged upside and buffered downside due April 5, 2012 linked to 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 gain in the index, up to a maximum payout of $1,180 per $1,000 principal amount of notes.
Investors will receive par if the index falls by up to 10% and will lose 1.1111% per 1% decline beyond 10%.
Issuer: | Eksportfinans ASA
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Issue: | Enhanced growth securities with leveraged upside and buffered downside
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Underlying index: | S&P 500
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Amount: | $1,176,000
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Maturity: | April 5, 2012
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 150% of any index gain, capped at $1,180 per note; par for losses up to 10% and 1.1111% loss per 1% drop beyond 10%
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Initial index level: | 1,097.50
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Buffer level: | 987.75.53, 90% of initial level
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Pricing date: | Jan. 27
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Settlement date: | Feb. 1
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Agent: | Wells Fargo Securities, LLC
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Fees: | 2.25%
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Cusip: | 282645TX8
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