Merrill Lynch plans one-year Stars based on S&P 500 for Eksportfinans

By Susanna Moon

Chicago, Dec. 8 - Eksportfinans ASA plans to price 0% Strategic Accelerated Redemption Securities due January 2012 linked to the S&P 500 index via Merrill Lynch, Pierce, Fenner & Smith Inc., according to an FWP filing with the Securities and Exchange Commission.

If the index closes at or above its initial level on any of three quarterly observation dates, the notes will be called at par of $10 plus a premium of 7% to 11% per year. The observation dates are in June 2011, September 2011 and December 2011.

If the index finishes at or above 95% of the initial level, the payout at maturity will be par.

Otherwise, investors will share in any losses beyond 5%.

The notes will price and settle in December.

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