By Jennifer Chiou
New York, March 1 - Eksportfinans ASA priced $4.2 million of 0% autocallable access securities with fixed percentage buffered downside due March 4, 2013 linked to the iShares Russell 2000 index fund, according to a 424B2 filing with the Securities and Exchange Commission.
Wells Fargo Securities, LLC is the agent.
The notes will be automatically called at par plus a call premium if the fund closes above the initial level on any of three call dates.
The call premium will be 7% if the notes are called on March 2, 2012, 10.5% if called on Sept. 4, 2012 and 14% if called on Feb. 25, 2013.
The payout at maturity will be par if the shares fall by up to 10%.
Investors will be exposed to any fund decline beyond 10%.
Issuer: | Eksportfinans ASA
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Issue: | Autocallable access securities
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Underlying index fund: | iShares Russell 2000
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Amount: | $4,197,000
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Maturity: | March 4, 2013
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par if fund has not declined by more than 10%; otherwise, 1% loss for every 1% that index fund declines beyond 10%
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Call: | Automatically at par plus 7% if the notes are called on March 2, 2012, 10.5% if called on Sept. 4, 2012 and 14% if called on Feb. 25, 2013
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Initial level: | $82.21
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Pricing date: | Feb. 25
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Settlement date: | March 2
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Underwriter: | Wells Fargo Securities, LLC
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Fees: | 2%
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Cusip: | 282645VQ0
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