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Wachovia plans enhanced yield securities linked to Alcoa for Eksportfinans
By Jennifer Chiou
New York, Sept. 7 - Eksportfinans ASA plans to price 13% to 14% enhanced yield securities with contingent downside protection due April 10, 2008 linked to the common stock of the Alcoa Inc. via Wachovia Capital Markets, LLC, according to a 424B5 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
At maturity, investors will receive par in cash unless Alcoa 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 Alcoa shares equal to $1,000 divided by the initial price.
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