Published on 8/20/2008 in the Prospect News Structured Products Daily.
New Issue: Goldman raises absolute return trigger notes tied to S&P 500 to $26.5 million for Eksportfinans
By Angela McDaniels
Tacoma, Wash., Aug. 20 - Eksportfinans ASA priced an additional $6.45 million of 0% absolute return trigger notes due Nov. 23, 2009 linked to the S&P 500 index via Goldman, Sachs & Co., according to an FWP filing with the Securities and Exchange Commission.
The notes priced at 99.93 and bring the total issue size to $26.5 million. The company priced $20.05 million of the notes at par on Aug. 8.
If the index never trades above the upper trigger level and never trades below the lower trigger level during the life of the notes, the payout at maturity will be par plus the absolute value of the index return. Otherwise, the payout will be par.
The upper trigger level is 119.9% of the initial index level, and the lower trigger level is 80.1% of the initial level.
Issuer: | Eksportfinans ASA
|
Issue: | Absolute return trigger notes
|
Underlying index: | S&P 500
|
Amount: | $26,496,000, upsized from $20,046,000
|
Maturity: | Nov. 23, 2009
|
Coupon: | 0%
|
Price: | Par for original issue; 99.93 for add-on
|
Payout at maturity: | If index remains at or below the upper trigger level and at or above the lower trigger level throughout the life of the notes, par plus the absolute value of the index return; otherwise, par
|
Initial index level: | 1,266.45
|
Upper trigger level: | 1,518.474, 119.9% of initial level
|
Lower trigger level: | 1,014.426, 80.1% of initial level
|
Pricing date: | Aug. 8 for original issue; Aug. 19 for add-on
|
Settlement date: | Aug. 22
|
Underwriter: | Goldman, Sachs & Co.
|
Fees: | 0.25%
|
© 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.