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Merrill plans Accelerated Return Notes tied to gold for Eksportfinans
By Susanna Moon
Chicago, June 29 - Eksportfinans ASA plans to price Accelerated Return Notes due October 2011 based on the spot price of gold, according to an FWP filing with the Securities and Exchange Commission.
Merrill Lynch, Pierce, Fenner & Smith Inc. and First Republic Securities Co., LLC are the underwriters.
The payout at maturity will be par of $10 plus triple any gain in the price of gold, up to a maximum return of $11.70 to $12.10 per note. The exact cap will be set at pricing.
Investors will be exposed to any losses.
The notes are expected to price in July and settle in August.
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