New Issue: Wells Fargo prices $5.19 million notes on SPDR S&P Metals and Mining for Eksportfinans

By Toni Weeks

San Diego, May 2 - Eksportfinans ASA priced $5.19 million of autocallable access securities with fixed percentage buffered downside due May 2, 2013 linked to the SPDR S&P Metals and Mining 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 a premium if the fund's closing share price is greater than the initial share price on any of the call dates. The premium is 9% for the first call date of May 2, 2012, 13.5% for the second call date of Nov. 2, 2012 and 18% on the final call date of April 25, 2013.

If the notes are not called and the fund's final share price is at least 90% of the initial level, the payout at maturity will be par. Investors will lose 1% for every 1% that the fund declines beyond 10%.

Issuer:	Eksportfinans ASA
Issue:	Autocallable access securities
Underlier:	SPDR S&P Metals and Mining fund
Amount:	$5.19 million
Maturity:	May 2, 2013
Coupon:	0%
Price:	Par
Payout at maturity:	Par if fund return has not declined by more than 10%; otherwise, 1% loss for every 1% decline in fund return
Call:	If final share price is greater than initial share price on any of three call dates; at 109 on May 2, 2012, 113.5 on Nov. 2, 2012 and 118 on April 25, 2013
Initial fund price:	$74.65
Buffer level:	$67.19, 90% of initial price
Pricing date:	April 28
Settlement date:	May 3
Underwriter:	Wells Fargo Securities, LLC
Fees:	2%
Cusip:	282645VV9

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