By Susanna Moon
Chicago, April 8 - Eksportfinans ASA priced $39.89 million of 0% Strategic Accelerated Redemption Securities due Dec. 2, 2011 linked to the front-month corn futures contract, according to a 424B2 filing with the Securities and Exchange Commission.
Merrill Lynch, Pierce, Fenner & Smith Inc. is the underwriter.
If the price of the futures contract on Nov. 25, 2011 is at or above the initial price, the notes will be called at par of $10 plus a premium of 27%.
The payout at maturity will be par if the final price is at least 85% of the initial price.
Otherwise, investors will be exposed to any losses beyond the threshold value.
Issuer: | Eksportfinans ASA
|
Issue: | Strategic Accelerated Redemption Securities
|
Underlying: | Front-month corn futures contract
|
Amount: | $39,888,370
|
Maturity: | Dec. 2, 2011
|
Coupon: | 0%
|
Price: | Par of $10
|
Payout at maturity: | Par if final price is at least 85% of initial price; investors will share in losses beyond threshold
|
Call: | At par plus 27% on Nov. 25, 2011 if final price of futures contract is at or above initial price
|
Initial price: | $763.00
|
Pricing date: | April 6
|
Settlement date: | April 14
|
Underwriter: | Merrill Lynch, Pierce, Fenner & Smith Inc.
|
Fees: | 1%
|
Cusip: | 28264M673
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.