New Issue: Morgan Stanley sells $1.1 million 0% PLUS linked to S&P 500 for Eksportfinans

By Susanna Moon

Chicago, Nov. 23 - Eksportfinans ASA priced $1.1 million of 0% Performance Leveraged Upside Securities due Dec. 28, 2010 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus triple any index gain, up to a maximum of $11.60 per note.

Investors will be exposed to any decline.

Morgan Stanley & Co. Inc. is the agent.

Issuer:	Eksportfinans ASA
Issue:	Performance Leveraged Upside Securities
Underlying index:	S&P 500 index
Amount:	$1,096,300
Maturity:	Dec. 28, 2010
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 300% of any index gain, capped at 16%; exposure to losses
Initial index level:	1,091.38
Pricing date:	Nov. 20
Settlement date:	Nov. 30
Agent:	Morgan Stanley & Co. Inc.
Fees:	1.5%

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