Merrill amends payout for Stars linked to palladium for Eksportfinans

By Jennifer Chiou

New York, Jan. 13 - Eksportfinans ASA announced changes to the payout for its planned five-month 0% Strategic Accelerated Redemption Securities linked to the spot price of palladium, according to an FWP with the Securities and Exchange Commission.

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

As before, if the final price is greater than or equal to the initial price, the notes will be automatically called and investors will receive par of $10.00 plus an annualized 19.2% to 28.8%. The exact call amount will be set at pricing.

If the final price is less than the initial price, investors will now be exposed to the decline beyond the threshold of 95% of the initial amount, with up to 95% of the principal at risk. Before, investors were to be exposed to the decline of palladium, with up to 95% at risk.

The notes will price in January and settle in February.

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