Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers C > Headlines for Chinese renminbi > News item |
Eksportfinans lowers cap, leverage for notes linked to renminbi
By Angela McDaniels
Tacoma, Wash., Oct. 20 - Eksportfinans ASA lowered the maximum settlement amount and participation rate for the upcoming 0% currency-linked notes tied to the Chinese renminbi that it will price via Goldman Sachs & Co., according to a 424B2 filing with the Securities and Exchange Commission.
The 13- to 14-month notes will price at 101.
If the currency return is positive, the payout at maturity will be par plus 150% to 170% of the return, subject to a maximum settlement amount of $1,075 to $1,085 per $1,000 principal amount of notes. Investors will be fully exposed to the decline if the currency return is negative.
Previously, the participation rate was expected to be 160% to 180%, and the maximum settlement amount was expected to be $1,080 to $1,090.
The currency return will be negative if the renminbi weakens relative to the dollar, and it will be positive if the renminbi strengthens relative to the dollar.
The exact deal terms will be set at pricing.
© 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.