Wachovia to sell 15%-17% enhanced yield securities linked to Alcoa for Eksportfinans

By Susanna Moon

Chicago, May 12 - Eksportfinans ASA plans to price 15% to 17% annualized enhanced yield securities due Dec. 10, 2009 linked to the common stock of Alcoa Inc. 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 Alcoa stock falls by 40% or more during the life of the notes and finishes below the initial share price, in which case investors will receive a number of Alcoa shares equal to $1,000 divided by the initial share price.

Pricing and settlement dates were not specified in the filing.

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