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Merrill Lynch to price bear Accelerated Return Notes linked to S&P 500 index for Eksportfinans
By Angela McDaniels
Tacoma, Wash., Sept. 13 - Eksportfinans ASA plans to price six-month 0% bear Accelerated Return Notes 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.
The payout at maturity will be par of $10 plus five times the absolute value of any index decline, subject to a maximum return of 8% to 12% that will be set at pricing.
Investors will lose 1% for every 1% that the index advances.
The notes will price in September or October.
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