Wells Fargo to price autocallable access notes linked to SPDR S&P Metals for Eksportfinans

By Susanna Moon

Chicago, June 3 - Eksportfinans ASA plans to price 0% autocallable access securities with fixed percentage buffered downside due July 1, 2013 linked to the SPDR S&P Metals and Mining fund via Wells Fargo Securities, LLC, according to a 424B5 filing with the Securities and Exchange Commission.

The notes will be called at par plus a call premium if the fund closes at or above the initial level on any of three call dates.

The call premium will be 8% to 10% if the notes are called on July 2, 2012, 12% to 15% if called on Jan. 2, 2013 and 16% to 20% if called on June 24, 2013. The exact call premiums will be set at pricing.

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%.

The notes are expected to price in June and settle in July.

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