New Issue: Wachovia prices $14 million 11.25% notes linked to Schlumberger for Eksportfinans

By Susanna Moon

Chicago, Nov. 2 - Eksportfinans ASA priced a $14 million issue of 11.25% enhanced yield securities due May 5, 2008 linked to Schlumberger Ltd. common stock via Wachovia Capital Markets, LLC, according to an FWP filing with the Securities and Exchange Commission.

Interest is 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.

Issuer:	Eksportfinans ASA
Issue:	Enhanced yield securities
Underlying stock:	Schlumberger Ltd. (NYSE: SLB)
Amount:	$14,016,000
Maturity:	May 5, 2008
Coupon:	11.25%, payable monthly
Price:	Par
Payout at maturity:	If the stock closes below the knock-in price during the life of the notes and the final share price is less than the initial share price, 10.3552 Schlumberger shares; otherwise, par
Initial share price:	$96.57
Knock-in price:	$72.428, or 75% of initial share price
Pricing date:	Oct. 31
Settlement date:	Nov. 5
Agent:	Wachovia Capital Markets, LLC
Fees:	1.25%

© 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.