New Issue: Wachovia prices $2.29 million 13% enhanced yield securities tied to Apache for Eksportfinans

By Angela McDaniels

Tacoma, Wash., Aug. 19 - Eksportfinans ASA priced $2.29 million of 13% annualized enhanced yield securities due Feb. 25, 2009 linked to the common stock of Apache 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 unless Apache stock falls by 30% or more during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Apache shares equal to $1,000 divided by the initial share price.

Issuer:	Eksportfinans ASA
Issue:	Enhanced yield securities
Underlying stock:	Apache Corp. (NYSE: APA)
Amount:	$2,294,000
Maturity:	Feb. 25, 2009
Coupon:	13%, payable monthly
Price:	Par
Payout at maturity:	If Apache stock falls below the knock-in price during the life of the notes and the final share price is less than the initial share price, 9.3686 Apache shares; otherwise, par
Initial share price:	$106.74
Knock-in price:	$74.718, 70% of initial share price
Pricing date:	Aug. 15
Settlement date:	Aug. 20
Underwriter:	Wachovia Capital Markets, LLC
Fees:	1.25%

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