Merrill plans Stars linked to iShares MSCI Brazil fund for Eksport

By Jennifer Chiou

New York, July 30 - Eksportfinans ASA plans to price 0% Strategic Accelerated Redemption Securities due September 2011 linked to the iShares MSCI Brazil index fund, according to an FWP filing with the Securities and Exchange Commission.

Merrill Lynch, Pierce, Fenner & Smith Inc. is the underwriter.

If the index fund closes at or above its initial level on any of the observation dates, the notes will be called at par of $10 plus an annualized premium of 14% to 18%. The observation dates will fall in February 2011, May 2011 and August 2011.

The payout at maturity will be par if the fund finishes at or above the threshold level - 90% of the initial level - and investors will be exposed to any decline below the threshold level.

The notes will price in August and settle in September.

The exact deal terms will be set at pricing.

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