New Issue: Wachovia prices $3.41 million 13% securities linked to Home Depot for Eksportfinans

By Angela McDaniels

Tacoma, Wash., July 2 - Eksportfinans ASA priced $3.41 million enhanced yield securities due Jan. 6, 2009 linked to the common stock of Home Depot, Inc. via Wachovia Capital Markets, LLC, according to a 424B2 filing with the Securities and Exchange Commission.

The six-month notes pay 6.5% for an annualized coupon of 13%. Interest is payable monthly.

The payout at maturity will be par unless Home Depot stock falls by 25% or more during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Home Depot shares equal to $1,000 divided by the initial share price.

Issuer:	Eksportfinans ASA
Issue:	Enhanced yield securities
Underlying stock:	Home Depot, Inc. (NYSE: HD)
Amount:	$3,413,000
Maturity:	Jan. 6, 2009
Coupon:	13%, payable monthly
Price:	Par
Payout at maturity:	If Home Depot stock falls below the knock-in price during the life of the notes and the final share price is less than the initial share price, 42.6985 Home Depot shares; otherwise, par
Initial share price:	$23.42
Knock-in price:	$17.565, 75% of initial share price
Pricing date:	June 30
Settlement date:	July 3
Underwriter:	Wachovia Capital Markets, LLC
Fees:	1.25%

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