By Laura Lutz
Des Moines, Dec. 6 - Eksportfinans ASA priced $10 million of range notes due Dec. 28, 2022 linked to the six-month Libor via underwriter Lehman Brothers Inc., according to an FWP filing with the Securities and Exchange Commission.
For each quarter, interest will accrue at a base rate times the proportion of days that the six-month Libor is at least 0% and below 7%.
The base rate will be 7% for the first five years, 8% for the next five years and 10% thereafter.
The notes are callable at par plus accrued interest on any interest payment date beginning on March 28, 2008.
If the notes are not called, the payout at maturity will be par plus accrued interest, if any.
| Issuer: | Eksportfinans ASA
|
| Issue: | Range accrual notes
|
| Underlying rate: | Six-month Libor
|
| Amount: | $10 million
|
| Maturity: | Dec. 28, 2022
|
| Coupon: | Base rate times proportion of days that six-month Libor is between 0% and 7%; base rate is 7% for first five years, 8% for next five years and 10% thereafter
|
| Price: | Par
|
| Payout at maturity: | Par plus accrued interest
|
| Call: | At par on any interest date beginning on March 28, 2008
|
| Pricing date: | Dec. 6
|
| Settlement date: | Dec. 28
|
| Underwriter: | Lehman Brothers Inc.
|
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