Wachovia to issue enhanced yield securities linked to Schlumberger for Eksportfinans

By Susanna Moon

Chicago, Oct. 22 - Eksportfinans ASA plans to price an issue of enhanced yield securities due May 5, 2008 linked to Schlumberger Ltd. common stock, according to an FWP filing with the Securities and Exchange Commission.

Interest is expected to be between 10.5% and 11.5% per year, payable monthly.

The payout at maturity will be par unless the stock falls below the knock-in price - 75% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Schlumberger shares equal to $1,000 divided by the initial share price.

Wachovia Capital Markets, LLC is the agent.

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