Published on 9/27/2010 in the Prospect News Structured Products Daily.
New Issue: Merrill Lynch sells $20.27 million Accelerated Return Notes on MSCI EM for Eksportfinans
By Angela McDaniels
Tacoma, Wash., Sept. 27 - Eksportfinans ASA priced $20.27 million of 0% Accelerated Return Notes due Nov. 28, 2011 linked to the MSCI Emerging Markets index via Merrill Lynch, Pierce, Fenner & Smith Inc., 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 index, subject to a maximum return of 17.1%. Investors will be exposed to any decline in the index.
Issuer: | Eksportfinans ASA
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Issue: | Accelerated Return Notes
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Underlying index: | MSCI Emerging Markets index
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Amount: | $20,274,870
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Maturity: | Nov. 28, 2011
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus triple any index gain, up to 17.1% cap; exposure to any index decline
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Initial index level: | 1,047.16
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Final index level: | Average of index's closing levels on the five trading days ending Nov. 22, 2011
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Pricing date: | Sept. 23
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Settlement date: | Oct. 1
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Underwriter: | Merrill Lynch, Pierce, Fenner & Smith Inc.
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Fees: | 2%
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Cusip: | 282649227
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