New Issue: Wachovia prices $2 million 18% enhanced yield notes linked to Capital One for Eksportfinans

By Laura Lutz

Des Moines, March 18 - Eksportfinans ASA priced $2 million of 18% enhanced yield securities due June 25, 2008 linked to the common stock of Capital One Financial Corp. via Wachovia Capital Markets, LLC, according to a 424B3 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par in cash unless Capital One stock falls by more than 35% during the life of the notes - a knock-in event - and the stock finishes below the initial price, in which case the payout will be a number of Capital One shares equal to par divided by the initial share price.

Issuer:	Eksportfinans ASA
Issue:	Enhanced yield securities
Underlying stock:	Capital One Financial Corp. (NYSE: COF)
Amount:	$2,004,000
Maturity:	June 25, 2008
Coupon:	18%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Capital One stock falls by more than 35% during the life of the notes and the stock finishes below the initial price, in which case a number of Capital One shares equal to par divided by the initial share price
Initial share price:	$47.86
Knock-in price:	$31.109, 65% of initial share price
Pricing date:	March 14
Settlement date:	March 19
Underwriter:	Wachovia Capital Markets, LLC
Fees:	0.9%

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