Wachovia to price 11%-12% enhanced yield securities linked to Transocean for Eksportfinans

By Susanna Moon

Chicago, June 2 - Eksportfinans ASA plans to price enhanced yield securities due Dec. 19, 2008 linked to the common stock of Transocean Inc. via underwriter Wachovia Capital Markets, LLC, according to an FWP filing with the Securities and Exchange Commission.

The notes will carry an annualized coupon of 11% to 12%, with the exact rate to be set at pricing. Interest will be payable monthly.

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

The notes will price and settle sometime in 2008.

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