Published on 12/2/2010 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $57.59 million notes on currencies for Eksportfinans
By Jennifer Chiou
New York, Dec. 2 - Eksportfinans ASA priced $57.59 million of 0% currency-linked notes due Jan. 10, 2012 linked to five equally weighted currencies relative to the U.S. dollar via Goldman, Sachs & Co., according to a 424B2 filing with the Securities and Exchange Commission.
The underlying currencies are the Korean won, Indonesian rupiah, Indian rupee, Singapore dollar and the Malaysian ringgit.
If the basket return is positive, the payout at maturity will be par plus 225% of the basket gain, capped at a maximum settlement amount of $1,112.50 per $1,000 principal amount.
Investors will share in any losses.
Issuer: | Eksportfinans ASA
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Issue: | Currency-linked notes
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Underlying assets: | Korean won, Indonesian rupiah, Indian rupee, Singapore dollar and the Malaysian ringgit, equally weighted relative to the U.S. dollar
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Amount: | $57,585,000
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Maturity: | Jan. 10, 2012
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 225% of any gain, capped at 11.25%; exposure to losses
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Initial levels: | 1,155.80 won per U.S. dollar; 9,030 rupiah per U.S. dollar; 45.76 rupees per U.S. dollar; 1.3213 Singapore dollars per U.S. dollar; 3.16 ringgit per U.S. dollar
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Pricing date: | Dec. 1
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Settlement date: | Dec. 8
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Underwriter: | Goldman Sachs & Co.
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Fees: | 0.25%
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Cusip: | 28264QU36
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