New Issue: Wells Fargo prices $12.02 million 15.5% enhanced yield notes tied to BofA for Eksportfinans

By Angela McDaniels

Tacoma, Wash., Sept. 1 - Eksportfinans ASA priced $12.02 million of enhanced yield securities due March 5, 2010 linked to the common stock of Bank of America Corp. via underwriter Wells Fargo Securities, LLC, according to a 424B3 filing with the Securities and Exchange Commission.

The six-month notes pay 7.75% for an annualized coupon of 15.5%. Interest is payable monthly.

The payout at maturity will be par unless Bank of America stock declines by 30% or more during the life of the notes and finishes below the initial share price, in which case investors will receive a number of Bank of America shares equal to $1,000 divided by the initial share price.

Issuer:	Eksportfinans ASA
Issue:	Enhanced yield securities
Underlying stock:	Bank of America Corp. (NYSE: BAC)
Amount:	$12.02 million
Maturity:	March 5, 2010
Coupon:	15.5%, payable monthly
Price:	Par
Payout at maturity:	If Bank of America stock falls to or below knock-in price during life of notes and finishes below initial share price, 55.6174 Bank of America shares; otherwise, par
Initial share price:	$17.98
Knock-in price:	$12.586, 70% of initial price
Pricing date:	Aug. 28
Settlement date:	Sept. 2
Underwriter:	Wells Fargo Securities, LLC
Fees:	1.25%

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