New Issue: Wells Fargo prices $2.9 million access notes tied to iShares Russell for Eksportfinans

By Susanna Moon

Chicago, May 27 - Eksportfinans ASA priced $2.9 million of 0% autocallable access securities with fixed percentage buffered downside due May 31, 2013 linked to the iShares Russell 2000 index fund, according to a 424B2 filing with the Securities and Exchange Commission.

Wells Fargo Securities, LLC is the agent.

The notes will be called at par plus a call premium if the fund closes above the initial level on any of three call dates. The call premium will be 7% if the notes are called on May 31, 2012, 10.5% if called on Nov. 30, 2012 and 14% if called on May 23, 2013.

The payout at maturity will be par if the shares fall by up to 10%.

Investors will be exposed to any fund decline beyond 10%.

Issuer:	Eksportfinans ASA
Issue:	Autocallable access securities
Underlying fund:	iShares Russell 2000 index fund
Amount:	$2,899,000
Maturity:	May 31, 2013
Coupon:	0%
Price:	Par
Payout at maturity:	1% loss for every 1% fund decline beyond 10%
Call:	At par plus 7% if the notes are called on May 31, 2012, 10.5% if called on Nov. 30, 2012 and 14% if called on May 23, 2013
Initial level:	$82.03
Buffer level:	$73.83, or 90% of initial price
Pricing date:	May 25
Settlement date:	May 31
Underwriter:	Wells Fargo Securities, LLC
Fees:	2%
Cusip:	282645VX5

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