Published on 3/1/2010 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo sells $10.6 million 10% enhanced yield notes on JPMorgan for Eksportfinans
By Susanna Moon
Chicago, March 1 - Eksportfinans ASA priced $10.6 million of 10% annualized enhanced yield securities due June 2, 2010 based on the performance of JPMorgan Chase & Co. shares, according to a 424B3 filing with the Securities and Exchange Commission.
Wells Fargo Securities, LLC is the agent.
Interest is payable monthly.
The payout at maturity will be par unless JPMorgan stock falls by 20% or more during the life of the notes and finishes below the initial share price, in which case investors will receive a number of JPMorgan shares equal to $1,000 divided by the initial share price.
Issuer: | Eksportfinans ASA
|
Issue: | Enhanced yield securities
|
Underlying stock: | JPMorgan Chase & Co. (NYSE: JPM)
|
Amount: | $10,596,000
|
Maturity: | June 2, 2010
|
Coupon: | 10%, payable monthly
|
Price: | Par
|
Payout at maturity: | If the stock falls to or below the knock-in price during the life of the notes and finishes below the initial price, 24.6063 JPMorgan shares; otherwise, par
|
Initial share price: | $40.64
|
Knock-in price: | $32.512, or 80% of initial price
|
Pricing date: | Feb. 25
|
Settlement date: | March 2
|
Agent: | Wells Fargo Securities, LLC
|
Fees: | 1.25%
|
Cusip: | 282649BS0
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.