New Issue: Eksportfinans sells $3.21 million autocallable access notes on iShares Russell via Wells

By Marisa Wong

Madison, Wis., May 2 - Eksportfinans ASA priced $3.21 million of 0% autocallable access securities with fixed percentage buffered downside due May 2, 2013 linked to the iShares Russell 2000 index fund via Wells Fargo Securities, LLC, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at par plus an annualized call premium of 7% if the fund's shares close at or above the initial share price on May 2, 2012, Nov. 2, 2012 or April 25, 2013.

If the notes are not called and the share price has not declined by more than 10%, the payout at maturity will be par. Investors will lose 1% for every 1% that the share price declines beyond 10%.

Issuer:	Eksportfinans ASA
Issue:	Autocallable access securities
Underlying fund:	iShares Russell 2000 index fund
Amount:	$3.21 million
Maturity:	May 2, 2013
Coupon:	0%
Price:	Par
Payout at maturity:	Par unless the fund share price falls by more than 10%, in which case investors will lose 1% for every 1% decline beyond 10%
Call:	Automatically at par plus 7% per year if the fund's shares close at or above initial price on May 2, 2012, Nov. 2, 2012 or April 25, 2013
Initial price:	$86.05
Buffer price:	$77.45, 90% of initial price
Pricing date:	April 28
Settlement date:	May 3
Agent:	Wells Fargo Securities, LLC
Fees:	2%
Cusip:	282645VW7

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