Wachovia plans enhanced yield securities linked to Las Vegas Sands for Eksportfinans

By Jennifer Chiou

New York, July 5 - Eksportfinans ASA plans to price 13% to 14% enhanced yield securities due Feb. 5, 2008 linked to the common stock of Las Vegas Sands Corp. via Wachovia Capital Markets, LLC, according to a 424B5 filing with the Securities and Exchange Commission.

Interest will be payable quarterly.

At maturity, investors will receive par in cash unless Las Vegas Sands stock falls to or below its knock-in level - 80% of its initial price - during the life of the notes and finishes below its initial price, in which case investors will receive a number of Las Vegas Sands shares equal to $1,000 divided by the initial price.

The securities will price in July and settle in August.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.