Published on 3/18/2011 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $6.94 million 0% commodity-linked notes for Eksportfinans
By Jennifer Chiou
New York, March 18 - Eksportfinans ASA priced $6.94 million of 0% notes due April 4, 2012 linked to a basket of four commodity futures contracts and one spot price, according to a 424B2 filing with the Securities and Exchange Commission.
Goldman Sachs & Co. is the underwriter.
The basket consists of the London Metal Exchange copper spot price with a 35% weight, the New York Mercantile Exchange WTI crude oil futures contract with a 20% weight, the New York Mercantile Exchange platinum futures contract with a 20% weight, the Chicago Board of Trade soybean futures contract with a 15% weight and the IntercontinentalExchange cotton futures contract with a 10% weight.
The payout at maturity will be par plus double any basket gain, up to a maximum return of $1,360 per $1,000 principal amount.
Investors will be exposed to any losses.
| Issuer: | Eksportfinans ASA
|
| Issue: | Commodity basket-linked notes
|
| Underlying assets: | London Metal Exchange copper spot price (35% weight), New York Mercantile Exchange WTI crude oil futures contract (20% weight), New York Mercantile Exchange platinum futures contract (20% weight), Chicago Board of Trade soybean futures contract (15% weight) and IntercontinentalExchange cotton futures contract (10% weight)
|
| Amount: | $6,939,000
|
| Maturity: | April 4, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus double any basket gain, capped at 36%; investors share in losses
|
| Initial levels: | 98.45 for oil; 9,295 for copper; 1,713 for platinum; 1,298 for soybean; 193 for cotton
|
| Pricing date: | March 16
|
| Settlement date: | March 23
|
| Underwriter: | Goldman, Sachs & Co.
|
| Fees: | 0.25%
|
| Cusip: | 28264QU69
|
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