Wells Fargo plans to price access securities linked to S&P 500 for Eksportfinans

By E. Janene Geiss

Philadelphia, Oct. 5 - Eksportfinans ASA plans to price 0% auto callable access securities with fixed percentage buffered downside due Nov. 7, 2012 linked to the S&P 500 index via Wells Fargo Securities, LLC, according to a 424B3 filing with the Securities and Exchange Commission.

The notes are callable if the closing level of the index on any of the call dates during the life of the notes is greater than or equal to the initial level. If the notes are called, investors will receive par plus a call premium.

If the notes are called on Nov. 7, 2011, the call premium will be 7.5% to 9.5% of the issue price; if the notes are called on May 7, 2012, the call premium will be 11.25% to 14.25%; and if the notes are called on Oct. 31, 2012, the call premium will be 15% to 19% of the issue price. The exact call premiums will be set at pricing.

If the notes are not called and the index has not declined by 10% or more, the payout at maturity will be par.

If the notes are not called and the index has declined by more than the 10% buffer, investors will be exposed to any losses.

The notes are expected to price in October and settle in November.

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