Published on 5/3/2010 in the Prospect News Structured Products Daily.
New Issue: Merrill prices $28.13 million Accelerated Return Notes tied to silver for Eksportfinans
By Jennifer Chiou
New York, May 3 - Eksportfinans ASA priced $28.13 million of 0% Accelerated Return Notes due July 5, 2011 linked to the silver spot price via Merrill Lynch, Pierce, Fenner & Smith Inc. and First Republic Securities Co., LLC, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any increase in the silver spot price, subject to a maximum return of 25.3%. Investors will be exposed to any decline in the price.
Issuer: | Eksportfinans ASA
|
Issue: | Accelerated Return Notes
|
Underlying commodity: | Silver
|
Amount: | $28,126,660
|
Maturity: | July 5, 2011
|
Coupon: | 0%
|
Price: | Par of $10
|
Payout at maturity: | Par plus triple any increase in the silver spot price, up to maximum return of 25.3%; exposure to any decline
|
Initial silver spot price: | 1,815¢
|
Pricing date: | April 29
|
Settlement date: | May 6
|
Underwriters: | Merrill Lynch, Pierce, Fenner & Smith Inc. and First Republic Securities Co., LLC
|
Fees: | 2%
|
Cusip: | 282649417
|
© 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.