By Jennifer Chiou
New York, March 1 - Eksportfinans ASA priced $6.02 million of 0% autocallable access securities with fixed percentage buffered downside due March 4, 2013 linked to the SPDR S&P Metals and Mining 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 9% if the notes are called on March 2, 2012, 13.5% if called on Sept. 4, 2012 and 18% 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
|
| Issue: | Autocallable access securities
|
| Underlying index fund: | SPDR S&P Metals and Mining
|
| Amount: | $6,015,000
|
| Maturity: | March 4, 2013
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par if fund has not declined by more than 10%; otherwise, 1% loss for every 1% that fund declines beyond 10%
|
| Call: | Automatically at par plus 9% if the notes are called on March 2, 2012, 13.5% if called on Sept. 4, 2012 and 18% if called on Feb. 25, 2013
|
| Initial level: | $71.06
|
| Pricing date: | Feb. 25
|
| Settlement date: | March 2
|
| Underwriter: | Wells Fargo Securities, LLC
|
| Fees: | 2%
|
| Cusip: | 282645VR8
|
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