By Angela McDaniels
Tacoma, Wash., Oct. 21 - Eksportfinans ASA priced $19.66 million of 0% currency-linked notes due April 26, 2012 linked to the bearish performance of the euro relative to the dollar via Goldman Sachs & Co., according to a 424B2 filing with the Securities and Exchange Commission.
For each $1,000 principal amount of notes, the payout at maturity will be the greater of (a) $962 and (b) $962 plus the product of $1,000 multiplied by the exchange rate return, subject to a maximum settlement amount of $1,082.
The exchange rate return will be (a) the initial exchange rate minus the final exchange rate divided by (b) the initial exchange rate. The exchange rate return will be positive if the dollar strengthens relative to the euro.
Investors will receive less than par at maturity if the exchange rate return is less than 3.8%.
The issuer said it may decide to sell additional notes prior to the settlement date.
| Issuer: | Eksportfinans ASA
|
| Issue: | Currency-linked notes
|
| Underlying currency: | Euro
|
| Amount: | $19,663,000
|
| Maturity: | April 26, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Greater of (a) $962 and (b) $962 plus product of $1,000 multiplied by exchange rate return, subject to maximum settlement amount of $1,082; exchange rate return will be positive if dollar strengthens relative to euro
|
| Initial exchange rate: | 1.3835 dollars per euro
|
| Pricing date: | Oct. 19
|
| Settlement date: | Oct. 26
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 0.25%
|
| Cusip: | 28264QV68
|
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