New Issue: Natixis prices $1.01 million autocallable notes on S&P 500 for Eksportfinans

By Toni Weeks

San Diego, Feb. 22 - Eksportfinans ASA priced $1.01 million autocallable notes due Feb. 24, 2012 linked to the S&P 500 index via Natixis Securities North America Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at par plus an annualized premium if the index closes at or above the initial level on any of the observation dates. The annualized premium is 3.90% for the first observation date of Aug. 17, 5.85% for the second observation date of Nov. 17 and 7.8% on the final observation date of Feb. 17, 2012.

If the notes are not called and the final index level is at least 95% of the initial level, the payout at maturity will be par. Investors will lose 1% for every 1% that the index declines beyond 5%.

Issuer:	Eksportfinans ASA
Issue:	Autocallable notes
Underlying index:	S&P 500 index
Amount:	$1,008,000
Maturity:	Feb. 24, 2012
Coupon:	0%
Price:	Par
Payout at maturity:	Par if index has not declined by more than 5%; otherwise, 1% loss for every 1% decline in the index
Call:	Automatically at par plus annualized premium if index closes at or above initial level on any of the three call dates; premiums are 3.9%, 5.85% and 7.8% for first, second and third observation dates, respectively
Initial index level:	1,340.43
Pricing date:	Feb. 17
Settlement date:	Feb. 24
Underwriter:	Natixis Securities NA Inc.
Fees:	1%
Cusip:	282645VK3

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