|
|
|
TERMS SUPPLEMENT NO. 61 dated March 5, 2008
To Prospectus Supplement and Prospectus dated February 5,
2007 and
Product Supplement No. 1 dated April 12, 2007
Relating to the Eksportfinans ASA U.S. Medium-Term Note
Program
|
|
Filed pursuant to Rule 433
Registration Statement No. 333-140456
|
Natixis
Securities North America Inc.
Reverse
Convertible Notes
|
|
|
Issuer:
|
|
Eksportfinans ASA
|
|
Issuer Rating:
|
|
AAA (negative outlook) (Moodys)/AA+ (Standard &
Poors)/AAA (Fitch)
|
|
Specified Currency:
|
|
U.S. dollars
|
|
Agent:
|
|
Natixis Securities North America Inc.
9 West 57th St.
New York, NY 10019
|
|
Agent Acting in the Capacity as:
|
|
Principal
|
|
Coupon Payment Frequency:
|
|
Monthly
|
|
Offerings:
|
|
This terms supplement relates to six separate offerings of
notes, each of which is linked to one, and only one, Reference
Share. You may participate in any or all of the note offerings.
This terms supplement does not, however, allow you to purchase a
note linked to a basket of some or all of the Reference Shares
described below.
|
|
Issue Price:
|
|
100.00%
|
|
|
|
Trade Date:
|
|
March 26, 2008
|
|
Original Issue Date:
|
|
March 31, 2008
|
|
Determination Date:
|
|
For the notes maturing on July 1, 2008 the Determination
Date will be June 26, 2008.
|
|
|
|
For the note maturing on October 1, 2008 the Determination
Date will be September 26, 2008.
|
|
|
|
Interest Payment Dates:
|
|
For the notes maturing on July 1, 2008, interest is paid
monthly in arrears in 3 equal payments on each of the following
dates: May 1, 2008; May 30, 2008 and July 1,
2008.
|
|
|
|
For the note maturing on October 1, 2008, interest is paid
monthly in arrears in 6 equal payments on each of the following
dates: May 1, 2008; May 30, 2008; July 1, 2008;
August 1, 2008; August 29, 2008; and October 1,
2008.
|
|
Initial Reference Level:
|
|
For each note offering, the reference level of the applicable
Reference Share, as determined by the calculation agent, on the
Trade Date.
|
|
Final Reference Level:
|
|
For each note offering, the closing price of the applicable
Reference Share quoted by the Relevant Exchange, as determined
by the calculation agent, on the Determination Date.
|
|
Redemption Amount:
|
|
The Redemption Amount payable for each note offering on the
Maturity Date in respect of each $1,000.00 face amount will be:
|
|
|
|
If the closing price of the applicable Reference
Share quoted by the Relevant Exchange has not been below the
Knock-In Price of that Reference Share on any Trading Day during
the period from the Trade Date up to and including the
Determination Date (the Knock-In Level Trigger), as
determined by the calculation agent in its sole discretion, a
cash payment of $1,000.00 (i.e., 100.00% of the face amount), or
|
|
|
|
If the Knock-In Level Trigger has occurred,
(a) a cash payment of $1,000.00 (i.e., 100.00% of the face
amount), if the Final Reference Level of the applicable
Reference Share on the Determination Date is equal to or greater
than the Initial Reference Level of that Reference Share, as
determined by the calculation agent in its sole discretion, or
(b) a number of Reference Shares equal to the Share
Redemption Amount, if the Final Reference Level of that
Reference Share on the Determination Date is less than the
Initial Reference Level of that Reference Share.
|
|
Share Redemption Amount:
|
|
The Share Redemption Amount payable on the Maturity Date,
if applicable, will be the number of Reference Shares per note
that you hold. This amount is equal to the $1,000.00 face amount
of the note divided by the Initial Reference Level of the
applicable Reference Share. You will receive cash in lieu of
fractional shares in an amount equal to the fractional share
amount multiplied by the Final Reference Level of the applicable
Reference Share.
|
|
Denomination/Principal:
|
|
Minimum denominations of $1,000.00 and integral multiples
thereof.
|
|
Calculation Agent:
|
|
Natixis Derivatives Inc.
9 West 57th St., 35th Floor
Attn: General Counsel
Telephone No.: +1 212 891 6137
Facsimile No.: +1 212 891 1922
|
You may revoke your offer to purchase the notes at any time
prior to the time at which we accept such offer by notifying the
applicable agent. We reserve the right to change the terms of,
or reject any offer to purchase any of the notes prior to their
issuance. In the event of any changes to the terms of any of the
notes, we will notify you and you will be asked to accept such
changes in connection with your purchase. You may also choose to
reject such changes in which case we may reject your offer to
purchase.
TS-1
Neither the Securities and Exchange Commission nor any state
securities commission has approved or disapproved of the notes
or passed upon the accuracy or the adequacy of this terms
supplement or the accompanying prospectus supplements and
prospectus. Any representation to the contrary is a criminal
offense.
The notes are not bank deposits and are not insured by the
Federal Deposit Insurance Corporation or any other governmental
agency, nor are they obligations of, or guaranteed by, a
bank.
Eksportfinans ASA has filed a registration statement
(including a prospectus) with the Securities and Exchange
Commission, or SEC, for the offerings to which this terms
supplement relates. Before you invest, you should read the
prospectus in that registration statement and the other
documents relating to these offerings that Eksportfinans ASA has
filed with the SEC for more complete information about
Eksportfinans ASA and these offerings. You may get these
documents without cost by visiting EDGAR on the SEC Web site at
www.sec.gov. Alternatively, Eksportfinans ASA, any agent or any
dealer participating in these offerings will arrange to send you
the prospectus, each prospectus supplement, product supplement
no. 1 and this terms supplement if you so request by
calling toll-free
866-369-6147.
TS-2
Additional
Terms Specific to the Notes
You should read this terms supplement together with the
prospectus dated February 5, 2007, as supplemented by the
prospectus supplement dated February 5, 2007 relating to
our medium-term notes of which these notes are a part, and the
more detailed information contained in product supplement
no. 1 dated April 12, 2007. This terms supplement,
together with the documents listed below, contains the terms of
the notes and supersedes all other prior or contemporaneous oral
statements as well as any other written materials including
preliminary or indicative pricing terms, correspondence, trade
ideas, structures for implementation, sample structures,
brochures or other educational materials of ours. You should
carefully consider, among other things, the matters set forth in
Risk factors in the accompanying product supplement
no. 1 and the accompanying prospectus supplement, as the
notes involve risks not associated with conventional debt
securities. We urge you to consult your investment, legal, tax,
accounting and other advisers before you invest in the notes.
You may access these documents on the SEC Web site at
www.sec.gov as follows (or if such address has changed, by
reviewing our filings for the relevant date on the SEC Web site):
http://www.sec.gov/Archives/edgar/data/700978/000115697307000604/u52418e424b2.htm
Our Central Index Key, or CIK, on the SEC Web site is 700978. As
used in this terms supplement, the Company,
we, us, or our refers to
Eksportfinans ASA.
Selected
Risk Considerations
An investment in the notes involves significant risks. Investing
in the notes is not equivalent to investing directly in the
Reference Shares. These risks are explained in more detail in
the Risk factors section, beginning on
page PS-9
of the accompanying product supplement no. 1 and beginning
on
page S-4
of the accompanying prospectus supplement.
Additional
Information
Unless otherwise stated, all information contained herein on the
Reference Shares and on the issuers of the Reference Shares
(each a
Reference Issuer
) is derived from publicly
available sources and is provided for informational purposes
only.
Each of the Reference Shares is registered under the Exchange
Act. Companies with securities registered under the Exchange Act
are required periodically to file certain financial and other
information specified by the SEC. Information provided to or
filed with the SEC can be inspected and copied at the public
reference facilities maintained by the SEC at Room 1580,
100 F Street, NE, Washington, DC 20549 and copies of
such material can be obtained from the Public Reference Section
of the SEC, 100 F Street, NE, Washington, DC 20549, at
prescribed rates. You may obtain information on the operation of
the Public Reference Room by calling
1-800-SEC-0330.
In addition, information provided to or filed with the SEC
electronically can be accessed through a website maintained by
the SEC. The address of the SECs website is www.sec.gov.
In addition, information regarding the Reference Issuers may be
obtained from other sources including, but not limited to, press
releases, newspaper articles and other publicly disseminated
documents. We make no representation or warranty as to the
accuracy or completeness of these reports.
This terms supplement relates only to the notes offered
hereby and does not relate to the Reference Shares. We have
derived all disclosures contained in this terms supplement
regarding the Reference Issuers from the publicly available
documents described in the preceding paragraphs. Neither we nor
the agent nor its affiliates have participated in the
preparation of such documents or made any due diligence inquiry
with respect to any of the Reference Issuers in connection with
the offering of the notes. Neither we nor the agent nor its
affiliates make any representation that such publicly available
documents or any other publicly available information regarding
any of the Reference Issuers are accurate or complete.
Furthermore, we cannot give any assurance that all the events
occurring prior to the date of this terms supplement (including
events that would affect the accuracy or completeness of the
publicly available documents described in the preceding
paragraph) that would affect the trading price of any of the
Reference Shares (and therefore the
TS-3
Initial Reference Level and the Knock-In Level and
Redemption Amount) have been publicly disclosed. Subsequent
disclosure of any such events or the disclosure of or failure to
disclose material future events concerning any of the Reference
Issuers could affect the value you will receive on the Maturity
Date with respect to the notes and therefore the market value of
the notes. Neither we nor any of our affiliates have any
obligation to disclose any information about the Reference
Issuers after the date of this terms supplement.
Neither we nor any of our affiliates makes any representation to
you as to the performance of the Reference Shares. As a
prospective purchaser of notes, you should undertake such
independent investigation of the Reference Issuers as in your
judgment is appropriate to make an informed decision with
respect to an investment in the Reference Shares.
Any historical upward or downward trend in the price of any
of the Reference Shares during any period shown in this terms
supplement is not an indication that the price of those
Reference Shares is more or less likely to increase or decrease
at any time during the term of the notes. You should not take
the historical performance levels as an indication of future
performance of any of the Reference Shares. We cannot assure you
that the future performance of any of the Reference Shares will
result in your receiving the face amount of your notes on the
Maturity Date. The actual performance of any of the Reference
Shares over the life of the notes may bear little relation to
the historical levels shown in this terms supplement.
Hypothetical
Returns on the Notes
The tables of hypothetical returns contained in this terms
supplement set out the total return to the Maturity Date of a
note, based on the assumptions outlined in the introduction to
each respective table of hypothetical returns and several
variables, which include (a) whether the Knock-In
Level Trigger has occurred and (b) several
hypothetical closing prices for the Reference Shares on the
Determination Date or at any time during the life of the notes.
These figures are provided for purposes of illustration only.
They should not be taken as an indication or prediction of
future investment results and are intended merely to illustrate
the effect that various hypothetical Reference Share values
could have on the Redemption Amount, assuming all other
variables remain constant.
The information in the tables of hypothetical returns reflects
hypothetical rates of return on the notes assuming they are
purchased on the Original Issue Date and held to the Maturity
Date. If you sell your notes prior to the Maturity Date, your
return will depend upon the market value of your notes at the
time of sale, which may be affected by a number of factors that
are not reflected in the table below. For a discussion of some
of these factors, see Risk factors beginning on
page PS-9
of the accompanying product supplement no. 1 and beginning
on
page S-4
of the accompanying prospectus supplement.
The tables of hypothetical returns assume no Market Disruption
Event, Adjustment Event or Settlement Disruption Event occurs.
Also, the hypothetical rates of return shown below do not take
into account the effects of applicable taxes. Because of the
U.S. tax treatment applicable to the notes, tax liabilities
could affect the after-tax rate of return on your notes to a
comparatively greater extent than the after-tax return on the
Reference Shares.
The market price of each of the Reference Shares has been
volatile in the past, and their performance cannot be predicted
for any future period. The actual performance of the Reference
Shares over the life of the notes, as well as the
Redemption Amount payable, may bear little relation to the
hypothetical return examples set forth in the tables of
hypothetical returns or to the historical price of the Reference
Shares set forth in this terms supplement.
TS-4
Supplemental
Information Regarding Taxation in the United States
The amount of the stated interest rate on each of the notes that
constitutes interest on the Deposit (as defined in the
accompanying product supplement no. 1) is set forth in
the table below.
Deposit Interest
for notes maturing on July 1, 2008
equals 3.01%. The
Put Premium
is the Interest Rate minus
the Deposit Interest.
Deposit Interest
for note maturing on October 1,
2008 equals 2.88%. The
Put Premium
is the Interest Rate
minus the Deposit Interest.
In addition to potential alternative treatments under current
tax law, it is also possible that the tax law may be changed by
legislative or regulatory action, possibly with retroactive
effect. However, it is not possible to predict whether or when
such action will occur and the effect of such potential changes
is uncertain.
Please refer to Taxation in the United States
beginning on
page PS-16
of the accompanying product supplement no. 1.
Supplemental
Plan of Distribution
The notes are being purchased by Natixis Securities North
America Inc. (the agent) as principal, pursuant to a terms
agreement dated as of the Trade Date between the agent and us.
The agent has agreed to pay our
out-of-pocket
expenses in connection with the issuance of the notes.
See Supplemental plan of distribution beginning on
page PS-19
of the accompanying product supplement no. 1.
TS-5
Description
of Companhia Siderurgica Nacional S.A.
ISIN: US20440W1053
Relevant Exchange: New York Stock Exchange
According to its publicly available documents, Companhia
Siderurgica Nacional S.A., is a fully integrated steel producer
in Brazil that produces carbon steel and also sells a variety of
steel products both domestically and abroad as a main raw
material for several different manufacturing industries,
including the automotive, home appliance, packaging,
construction and steel processing industries. Information
provided to or filed with the SEC by Companhia Siderurgica
Nacional S.A., pursuant to the Exchange Act can be located on
the SECs website by reference to SEC file number
001-14732.
Historical
Performance of Companhia Siderurgica Nacional S.A.
The following table sets forth the published
intra-day
high, low and closing prices of the Reference Shares since
December 31, 2004. We obtained the information in the
tables below from Bloomberg without independent verification
|
|
|
|
|
|
|
|
|
|
|
|
|
Period
|
|
High
|
|
Low
|
|
Period End
|
|
2005
|
|
|
|
|
|
|
|
|
|
|
|
|
First Quarter
|
|
$
|
8.77
|
|
|
$
|
5.65
|
|
|
$
|
8.03
|
|
Second Quarter
|
|
$
|
8.12
|
|
|
$
|
5.33
|
|
|
$
|
5.38
|
|
Third Quarter
|
|
$
|
7.82
|
|
|
$
|
5.05
|
|
|
$
|
7.74
|
|
Fourth Quarter
|
|
$
|
7.72
|
|
|
$
|
5.82
|
|
|
$
|
7.13
|
|
2006
|
|
|
|
|
|
|
|
|
|
|
|
|
First Quarter
|
|
$
|
10.52
|
|
|
$
|
7.19
|
|
|
$
|
10.47
|
|
Second Quarter
|
|
$
|
12.46
|
|
|
$
|
8.58
|
|
|
$
|
10.73
|
|
Third Quarter
|
|
$
|
10.96
|
|
|
$
|
8.89
|
|
|
$
|
9.48
|
|
Fourth Quarter
|
|
$
|
11.12
|
|
|
$
|
9.28
|
|
|
$
|
9.99
|
|
2007
|
|
|
|
|
|
|
|
|
|
|
|
|
First Quarter
|
|
$
|
14.28
|
|
|
$
|
9.42
|
|
|
$
|
14.28
|
|
Second Quarter
|
|
$
|
18.34
|
|
|
$
|
14.22
|
|
|
$
|
17.24
|
|
Third Quarter
|
|
$
|
23.64
|
|
|
$
|
14.46
|
|
|
$
|
23.51
|
|
Fourth Quarter
|
|
$
|
30.56
|
|
|
$
|
22.82
|
|
|
$
|
29.86
|
|
2008
|
|
|
|
|
|
|
|
|
|
|
|
|
First Quarter (through March 3, 2008)
|
|
$
|
40.82
|
|
|
$
|
25.53
|
|
|
$
|
38.80
|
|
TS-6
Table of
Hypothetical Returns of Companhia Siderurgica Nacional
S.A.
The following examples illustrate the rate of return on the
notes for a range of hypothetical Final Reference Levels on the
Determination Date assuming a hypothetical Initial Reference
Level of $38.80 and a hypothetical Knock-In Level of $27.16. In
these examples, the Knock-In Level Trigger never occurs
during the life of the notes. In each example, the
redemption Amount is paid in cash.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assumed Closing Price of
|
|
|
|
|
|
|
|
|
|
Reference Shares on Determination Date
|
|
|
|
|
|
|
|
|
|
(Companhia Siderurgica
|
|
Value of Payment at
|
|
|
3 Monthly Interest
|
|
|
|
|
Nacional S.A.)
|
|
Maturity
|
|
|
Payments
|
|
|
3 Month Total Return
|
|
|
|
|
|
|
|
|
|
$
|
|
|
%
|
|
|
Greater than: $38.80
|
|
$
|
1,000.00
|
|
|
$
|
44.25
|
|
|
$
|
1,044.25
|
|
|
|
4.4250%
|
|
$38.80
|
|
$
|
1,000.00
|
|
|
$
|
44.25
|
|
|
$
|
1,044.25
|
|
|
|
4.4250%
|
|
$34.92
|
|
$
|
1,000.00
|
|
|
$
|
44.25
|
|
|
$
|
1,044.25
|
|
|
|
4.4250%
|
|
$31.04
|
|
$
|
1,000.00
|
|
|
$
|
44.25
|
|
|
$
|
1,044.25
|
|
|
|
4.4250%
|
|
$27.17
|
|
$
|
1,000.00
|
|
|
$
|
44.25
|
|
|
$
|
1,044.25
|
|
|
|
4.4250%
|
|
In the examples above, the price of the Reference Shares
fluctuates over the term of the notes and closes above the
Knock-In Level on the Determination Date.
The following examples illustrate the rate of return on the
notes for a range of hypothetical Final Reference Levels on the
Determination Date assuming a hypothetical Initial Reference
Level of $38.80 and a hypothetical Knock-In Level of $27.16. In
these examples, the Knock-In Level Trigger occurs during
the life of the notes.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assumed Closing Price of
|
|
|
|
|
|
|
|
|
|
Reference Shares on Determination Date
|
|
Value of Payment at
|
|
|
|
|
|
|
|
(Companhia Siderurgica Nacional S.A.)
|
|
Maturity
|
|
|
3 Monthly Interest Payments
|
|
|
3 Month Total Return
|
|
|
|
|
|
|
|
|
|
$
|
|
|
%
|
|
|
Greater than: $38.80
|
|
$
|
1,000.00
|
|
|
$
|
44.25
|
|
|
$
|
1,044.25
|
|
|
|
4.425%
|
|
$38.80
|
|
$
|
1,000.00
|
|
|
$
|
44.25
|
|
|
$
|
1,044.25
|
|
|
|
4.425%
|
|
$34.92
|
|
$
|
900.00
|
*
|
|
$
|
44.25
|
|
|
$
|
944.25
|
|
|
|
−5.575%
|
|
$31.04
|
|
$
|
800.00
|
*
|
|
$
|
44.25
|
|
|
$
|
844.25
|
|
|
|
−15.575%
|
|
$27.16
|
|
$
|
700.00
|
*
|
|
$
|
44.25
|
|
|
$
|
744.25
|
|
|
|
−25.575%
|
|
$18.62
|
|
$
|
600.00
|
*
|
|
$
|
44.25
|
|
|
$
|
644.25
|
|
|
|
−35.575%
|
|
$15.52
|
|
$
|
500.00
|
*
|
|
$
|
44.25
|
|
|
$
|
544.25
|
|
|
|
−45.575%
|
|
$7.45
|
|
$
|
400.00
|
*
|
|
$
|
44.25
|
|
|
$
|
444.25
|
|
|
|
−55.575%
|
|
$5.59
|
|
$
|
300.00
|
*
|
|
$
|
44.25
|
|
|
$
|
344.25
|
|
|
|
−65.575%
|
|
$1.49
|
|
$
|
200.00
|
*
|
|
$
|
44.25
|
|
|
$
|
244.25
|
|
|
|
−75.575%
|
|
$0.74
|
|
$
|
100.00
|
*
|
|
$
|
44.25
|
|
|
$
|
144.25
|
|
|
|
−85.575%
|
|
$0.00
|
|
$
|
0.00
|
*
|
|
$
|
44.25
|
|
|
$
|
44.25
|
|
|
|
−95.575%
|
|
*Payable in Reference Shares of Companhia Siderurgica Nacional
S.A.
TS-7
Description
of DryShips Inc.
ISIN: MHY2109Q1017
Relevant Exchange: NASDAQ
According to its publicly available documents, DryShips Inc.
owns and operates a fleet of 35 vessels with an aggregate
cargo-carrying capacity of 3.0 million deadweight tons,
carrying a variety of drybulk commodities including major bulks
such as coal, iron ore, and grains, and minor bulks such as
bauxite, phosphate, fertilizers and steel products. Information
provided to or filed with the SEC by DryShips Inc., i.e., the
Reference Issuer] pursuant to the Exchange Act can be located on
the SECs website by reference to SEC file number 000-51141.
Historical
Performance of DryShips Inc.
The following table sets forth the published
intra-day
high, low and closing prices of the Reference Shares since
December 31, 2004. We obtained the information in the
tables below from Bloomberg without independent verification
|
|
|
|
|
|
|
|
|
|
|
|
|
Period
|
|
High
|
|
|
Low
|
|
|
Period End
|
|
|
2005
|
|
|
|
|
|
|
|
|
|
|
|
|
First Quarter
|
|
$
|
23.16
|
|
|
$
|
18.00
|
|
|
$
|
19.49
|
|
Second Quarter
|
|
$
|
19.09
|
|
|
$
|
15.50
|
|
|
$
|
16.51
|
|
Third Quarter
|
|
$
|
17.23
|
|
|
$
|
13.95
|
|
|
$
|
17.23
|
|
Fourth Quarter
|
|
$
|
17.16
|
|
|
$
|
12.16
|
|
|
$
|
12.22
|
|
2006
|
|
|
|
|
|
|
|
|
|
|
|
|
First Quarter
|
|
$
|
13.65
|
|
|
$
|
9.98
|
|
|
$
|
10.58
|
|
Second Quarter
|
|
$
|
11.02
|
|
|
$
|
8.58
|
|
|
$
|
10.79
|
|
Third Quarter
|
|
$
|
14.62
|
|
|
$
|
10.57
|
|
|
$
|
13.40
|
|
Fourth Quarter
|
|
$
|
18.01
|
|
|
$
|
12.90
|
|
|
$
|
18.01
|
|
2007
|
|
|
|
|
|
|
|
|
|
|
|
|
First Quarter
|
|
$
|
23.50
|
|
|
$
|
16.99
|
|
|
$
|
22.53
|
|
Second Quarter
|
|
$
|
43.38
|
|
|
$
|
23.24
|
|
|
$
|
43.38
|
|
Third Quarter
|
|
$
|
91.40
|
|
|
$
|
44.14
|
|
|
$
|
90.84
|
|
Fourth Quarter
|
|
$
|
130.97
|
|
|
$
|
69.67
|
|
|
$
|
77.40
|
|
2008
|
|
|
|
|
|
|
|
|
|
|
|
|
First Quarter (through March 3, 2008)
|
|
$
|
87.45
|
|
|
$
|
52.18
|
|
|
$
|
73.74
|
|
TS-8
Table of
Hypothetical Returns of DryShips Inc.
The following examples illustrate the rate of return on the
notes for a range of hypothetical Final Reference Levels on the
Determination Date assuming a hypothetical Initial Reference
Level of $73.74 and a hypothetical Knock-In Level of $47.931. In
these examples, the Knock-In Level Trigger never occurs
during the life of the notes. In each example, the
redemption Amount is paid in cash.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assumed Closing Price of
|
|
|
|
|
|
|
|
|
|
Reference Shares on Determination Date
|
|
Value of Payment at
|
|
|
3 Monthly Interest
|
|
|
|
|
(DryShips Inc.)
|
|
Maturity
|
|
|
Payments
|
|
|
3 Month Total Return
|
|
|
|
|
|
|
|
|
|
$
|
|
|
%
|
|
|
Greater than: $73.74
|
|
$
|
1,000.00
|
|
|
$
|
56.00
|
|
|
$
|
1,056.00
|
|
|
|
5.6000%
|
|
$73.74
|
|
$
|
1,000.00
|
|
|
$
|
56.00
|
|
|
$
|
1,056.00
|
|
|
|
5.6000%
|
|
$65.14
|
|
$
|
1,000.00
|
|
|
$
|
56.00
|
|
|
$
|
1,056.00
|
|
|
|
5.6000%
|
|
$56.53
|
|
$
|
1,000.00
|
|
|
$
|
56.00
|
|
|
$
|
1,056.00
|
|
|
|
5.6000%
|
|
$47.94
|
|
$
|
1,000.00
|
|
|
$
|
56.00
|
|
|
$
|
1,056.00
|
|
|
|
5.6000%
|
|
In the examples above, the price of the Reference Shares
fluctuates over the term of the notes and closes above the
Knock-In Level on the Determination Date.
The following examples illustrate the rate of return on the
notes for a range of hypothetical Final Reference Levels on the
Determination Date assuming a hypothetical Initial Reference
Level of $73.74 and a hypothetical Knock-In Level of $47.931. In
these examples, the Knock-In Level Trigger occurs during
the life of the notes.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assumed Closing Price of
|
|
|
|
|
|
|
|
|
|
|
|
|
Reference Shares on Determination
|
|
Value of Payment at
|
|
|
|
|
|
|
|
|
|
|
Date (DryShips Inc.)
|
|
Maturity
|
|
|
3 Monthly Interest Payments
|
|
|
3 Month Total Return
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
|
|
%
|
|
|
|
|
|
Greater than: $73.74
|
|
$
|
1,000.00
|
|
|
$
|
56.00
|
|
|
$
|
1,056.00
|
|
|
|
5.600
|
%
|
|
|
|
|
$73.74
|
|
$
|
1,000.00
|
|
|
$
|
56.00
|
|
|
$
|
1,056.00
|
|
|
|
5.600
|
%
|
|
|
|
|
$66.37
|
|
$
|
900.00
|
*
|
|
$
|
56.00
|
|
|
$
|
956.00
|
|
|
|
−4.400
|
%
|
|
|
|
|
$58.99
|
|
$
|
800.00
|
*
|
|
$
|
56.00
|
|
|
$
|
856.00
|
|
|
|
−14.400
|
%
|
|
|
|
|
$51.62
|
|
$
|
700.00
|
*
|
|
$
|
56.00
|
|
|
$
|
756.00
|
|
|
|
−24.400
|
%
|
|
|
|
|
$35.40
|
|
$
|
600.00
|
*
|
|
$
|
56.00
|
|
|
$
|
656.00
|
|
|
|
−34.400
|
%
|
|
|
|
|
$29.50
|
|
$
|
500.00
|
*
|
|
$
|
56.00
|
|
|
$
|
556.00
|
|
|
|
−44.400
|
%
|
|
|
|
|
$14.16
|
|
$
|
400.00
|
*
|
|
$
|
56.00
|
|
|
$
|
456.00
|
|
|
|
−54.400
|
%
|
|
|
|
|
$10.62
|
|
$
|
300.00
|
*
|
|
$
|
56.00
|
|
|
$
|
356.00
|
|
|
|
−64.400
|
%
|
|
|
|
|
$2.83
|
|
$
|
200.00
|
*
|
|
$
|
56.00
|
|
|
$
|
256.00
|
|
|
|
−74.400
|
%
|
|
|
|
|
$1.42
|
|
$
|
100.00
|
*
|
|
$
|
56.00
|
|
|
$
|
156.00
|
|
|
|
−84.400
|
%
|
|
|
|
|
$0.00
|
|
$
|
0.00
|
*
|
|
$
|
56.00
|
|
|
$
|
56.00
|
|
|
|
−94.400
|
%
|
|
|
|
|
*Payable in Reference Shares of DryShips Inc.
TS-9
Description
of Washington Mutual, Inc.
ISIN: US9393221034
Relevant Exchange: New York Stock Exchange
According to its publicly available documents, Washington
Mutual, Inc. is a consumer and small business banking company
with operations in major U.S. markets. Based on its
consolidated assets at December 31, 2007, Washington
Mutual, Inc. was the seventh largest among all
U.S.-based
bank and thrift holding companies. Information provided to or
filed with the SEC by Washington Mutual, Inc. pursuant to the
Exchange Act can be located on the SECs website by
reference to SEC file number
001-14667.
Historical
Performance of Washington Mutual, Inc.
The following table sets forth the published
intra-day
high, low and closing prices of the Reference Shares since
December 31, 2004. We obtained the information in the
tables below from Bloomberg without independent verification
|
|
|
|
|
|
|
|
|
|
|
|
|
Period
|
|
High
|
|
|
Low
|
|
|
Period End
|
|
|
2005
|
|
|
|
|
|
|
|
|
|
|
|
|
First Quarter
|
|
$
|
42.55
|
|
|
$
|
38.96
|
|
|
$
|
39.50
|
|
Second Quarter
|
|
$
|
42.73
|
|
|
$
|
37.78
|
|
|
$
|
40.69
|
|
Third Quarter
|
|
$
|
43.60
|
|
|
$
|
39.22
|
|
|
$
|
39.22
|
|
Fourth Quarter
|
|
$
|
44.54
|
|
|
$
|
36.92
|
|
|
$
|
43.50
|
|
2006
|
|
|
|
|
|
|
|
|
|
|
|
|
First Quarter
|
|
$
|
45.51
|
|
|
$
|
41.89
|
|
|
$
|
42.62
|
|
Second Quarter
|
|
$
|
46.48
|
|
|
$
|
42.53
|
|
|
$
|
45.58
|
|
Third Quarter
|
|
$
|
46.42
|
|
|
$
|
41.47
|
|
|
$
|
43.47
|
|
Fourth Quarter
|
|
$
|
46.29
|
|
|
$
|
42.19
|
|
|
$
|
45.49
|
|
2007
|
|
|
|
|
|
|
|
|
|
|
|
|
First Quarter
|
|
$
|
45.56
|
|
|
$
|
39.79
|
|
|
$
|
40.38
|
|
Second Quarter
|
|
$
|
44.41
|
|
|
$
|
38.87
|
|
|
$
|
42.64
|
|
Third Quarter
|
|
$
|
43.68
|
|
|
$
|
32.57
|
|
|
$
|
35.31
|
|
Fourth Quarter
|
|
$
|
36.07
|
|
|
$
|
13.07
|
|
|
$
|
13.61
|
|
2008
|
|
|
|
|
|
|
|
|
|
|
|
|
First Quarter (through March 3, 2008)
|
|
$
|
21.82
|
|
|
$
|
12.34
|
|
|
$
|
13.65
|
|
TS-10
Table of
Hypothetical Returns of Washington Mutual, Inc.
The following examples illustrate the rate of return on the
notes for a range of hypothetical Final Reference Levels on the
Determination Date assuming a hypothetical Initial Reference
Level of $13.65 and a hypothetical Knock-In Level of $8.19. In
these examples, the Knock-In Level Trigger never occurs
during the life of the notes. In each example, the
redemption Amount is paid in cash.
|
|
|
|
|
|
|
|
|
|
|
|
|
Assumed Closing Price of
|
|
|
|
|
|
|
|
|
Reference Shares on
|
|
|
|
|
|
|
|
|
Determination Date
|
|
Value of Payment at
|
|
|
3 Monthly Interest
|
|
|
|
(Washington Mutual, Inc.)
|
|
Maturity
|
|
|
Payments
|
|
|
3 Month Total Return
|
|
|
|
|
|
|
|
|
|
|
|
$
|
|
%
|
Greater than: $13.65
|
|
$
|
1,000.00
|
|
|
$
|
66.00
|
|
|
$1,066.00
|
|
6.6000%
|
$13.65
|
|
$
|
1,000.00
|
|
|
$
|
66.00
|
|
|
$1,066.00
|
|
6.6000%
|
$11.83
|
|
$
|
1,000.00
|
|
|
$
|
66.00
|
|
|
$1,066.00
|
|
6.6000%
|
$10.01
|
|
$
|
1,000.00
|
|
|
$
|
66.00
|
|
|
$1,066.00
|
|
6.6000%
|
$8.20
|
|
$
|
1,000.00
|
|
|
$
|
66.00
|
|
|
$1,066.00
|
|
6.6000%
|
In the examples above, the price of the Reference Shares
fluctuates over the term of the notes and closes above the
Knock-In Level on the Determination Date.
The following examples illustrate the rate of return on the
notes for a range of hypothetical Final Reference Levels on the
Determination Date assuming a hypothetical Initial Reference
Level of $13.65 and a hypothetical Knock-In Level of $8.19. In
these examples, the Knock-In Level Trigger occurs during
the life of the notes.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assumed Closing Price of
|
|
|
|
|
|
|
|
|
Reference Shares on
|
|
|
|
|
|
|
|
|
Determination Date
|
|
Value of Payment at
|
|
|
3 Monthly Interest
|
|
|
|
(Washington Mutual, Inc.)
|
|
Maturity
|
|
|
Payments
|
|
|
3 Month Total Return
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
|
%
|
Greater than:$13.65
|
|
$
|
1,000.00
|
|
|
$
|
66.00
|
|
|
$
|
1,066.00
|
|
6.600%
|
$13.65
|
|
$
|
1,000.00
|
|
|
$
|
66.00
|
|
|
$
|
1,066.00
|
|
6.600%
|
$12.29
|
|
$
|
900.00
|
*
|
|
$
|
66.00
|
|
|
$
|
966.00
|
|
3.400%
|
$10.92
|
|
$
|
800.00
|
*
|
|
$
|
66.00
|
|
|
$
|
866.00
|
|
13.400%
|
$9.56
|
|
$
|
700.00
|
*
|
|
$
|
66.00
|
|
|
$
|
766.00
|
|
23.400%
|
$6.55
|
|
$
|
600.00
|
*
|
|
$
|
66.00
|
|
|
$
|
666.00
|
|
33.400%
|
$5.46
|
|
$
|
500.00
|
*
|
|
$
|
66.00
|
|
|
$
|
566.00
|
|
43.400%
|
$2.62
|
|
$
|
400.00
|
*
|
|
$
|
66.00
|
|
|
$
|
466.00
|
|
53.400%
|
$1.97
|
|
$
|
300.00
|
*
|
|
$
|
66.00
|
|
|
$
|
366.00
|
|
63.400%
|
$0.52
|
|
$
|
200.00
|
*
|
|
$
|
66.00
|
|
|
$
|
266.00
|
|
73.400%
|
$0.26
|
|
$
|
100.00
|
*
|
|
$
|
66.00
|
|
|
$
|
166.00
|
|
83.400%
|
$0.00
|
|
$
|
0.00
|
*
|
|
$
|
66.00
|
|
|
$
|
66.00
|
|
93.400%
|
*Payable in Reference Shares of Washington Mutual, Inc.
TS-11
Description
of InterOil Corporation
ISIN: CA4609511064
Relevant Exchange: American Stock Exchange
According to its publicly available documents, InterOil
Corporation is a developing fully-integrated energy company
incorporated in Canada whose focus is on operations in Papua New
Guinea and its surrounding region. It has four business
segments: Exploration and Production, Liquefaction, Refining and
Marketing, Wholesale and Retail Distribution, and Corporate and
Consolidations. Information provided to or filed with the SEC by
InterOil Corporation pursuant to the Exchange Act can be located
on the SECs website by reference to SEC file number
001-32179.
Historical
Performance of InterOil Corporation
The following table sets forth the published
intra-day
high, low and closing prices of the Reference Shares since
December 31, 2004. We obtained the information in the
tables below from Bloomberg without independent verification
|
|
|
|
|
|
|
|
|
|
|
|
|
Period
|
|
High
|
|
|
Low
|
|
|
Period End
|
|
|
2005
|
|
|
|
|
|
|
|
|
|
|
|
|
First Quarter
|
|
$
|
43.30
|
|
|
$
|
33.49
|
|
|
$
|
34.96
|
|
Second Quarter
|
|
$
|
35.19
|
|
|
$
|
21.79
|
|
|
$
|
27.18
|
|
Third Quarter
|
|
$
|
31.60
|
|
|
$
|
21.75
|
|
|
$
|
23.30
|
|
Fourth Quarter
|
|
$
|
28.49
|
|
|
$
|
17.95
|
|
|
$
|
26.80
|
|
2006
|
|
|
|
|
|
|
|
|
|
|
|
|
First Quarter
|
|
$
|
20.00
|
|
|
$
|
13.12
|
|
|
$
|
13.14
|
|
Second Quarter
|
|
$
|
19.00
|
|
|
$
|
12.75
|
|
|
$
|
19.00
|
|
Third Quarter
|
|
$
|
19.75
|
|
|
$
|
13.50
|
|
|
$
|
18.93
|
|
Fourth Quarter
|
|
$
|
30.29
|
|
|
$
|
15.25
|
|
|
$
|
30.29
|
|
2007
|
|
|
|
|
|
|
|
|
|
|
|
|
First Quarter
|
|
$
|
27.35
|
|
|
$
|
22.34
|
|
|
$
|
26.60
|
|
Second Quarter
|
|
$
|
43.94
|
|
|
$
|
18.94
|
|
|
$
|
18.94
|
|
Third Quarter
|
|
$
|
40.75
|
|
|
$
|
19.27
|
|
|
$
|
31.60
|
|
Fourth Quarter
|
|
$
|
30.56
|
|
|
$
|
19.26
|
|
|
$
|
19.26
|
|
2008
|
|
|
|
|
|
|
|
|
|
|
|
|
First Quarter (through March 3, 2008)
|
|
$
|
23.48
|
|
|
$
|
16.04
|
|
|
$
|
22.66
|
|
TS-12
Table of
Hypothetical Returns of InterOil Corporation
The following examples illustrate the rate of return on the
notes for a range of hypothetical Final Reference Levels on the
Determination Date assuming a hypothetical Initial Reference
Level of $22.66 and a hypothetical Knock-In Level of $11.33. In
these examples, the Knock-In Level Trigger never occurs
during the life of the notes. In each example, the
redemption Amount is paid in cash.
|
|
|
|
|
|
|
|
|
|
|
|
|
Assumed Closing Price of
|
|
|
|
|
|
|
|
|
Reference Shares on
|
|
|
|
|
|
|
|
|
Determination Date
|
|
Value of Payment at
|
|
|
6 Monthly Interest
|
|
|
|
(InterOil Corporation)
|
|
Maturity
|
|
|
Payments
|
|
|
6 Month Total Return
|
|
|
|
|
|
|
|
|
|
|
|
$
|
|
%
|
Greater than: $22.66
|
|
$
|
1,000.00
|
|
|
$
|
126.50
|
|
|
$1,126.50
|
|
12.6500%
|
$22.66
|
|
$
|
1,000.00
|
|
|
$
|
126.50
|
|
|
$1,126.50
|
|
12.6500%
|
$18.88
|
|
$
|
1,000.00
|
|
|
$
|
126.50
|
|
|
$1,126.50
|
|
12.6500%
|
$15.11
|
|
$
|
1,000.00
|
|
|
$
|
126.50
|
|
|
$1,126.50
|
|
12.6500%
|
$11.34
|
|
$
|
1,000.00
|
|
|
$
|
126.50
|
|
|
$1,126.50
|
|
12.6500%
|
In the examples above, the price of the Reference Shares
fluctuates over the term of the notes and closes above the
Knock-In Level on the Determination Date.
The following examples illustrate the rate of return on the
notes for a range of hypothetical Final Reference Levels on the
Determination Date assuming a hypothetical Initial Reference
Level of $22.66 and a hypothetical Knock-In Level of $11.33. In
these examples, the Knock-In Level Trigger occurs during
the life of the notes.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assumed Closing Price of
|
|
|
|
|
|
|
|
|
|
Reference Shares on
|
|
|
|
|
|
|
|
|
|
Determination Date
|
|
Value of Payment at
|
|
|
6 Monthly Interest
|
|
|
|
|
(InterOil Corporation)
|
|
Maturity
|
|
|
Payments
|
|
|
6 Month Total Return
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
|
|
%
|
|
Greater than: $22.66
|
|
$
|
1,000.00
|
|
|
$
|
126.50
|
|
|
$
|
1,126.50
|
|
|
12.650
|
%
|
$22.66
|
|
$
|
1,000.00
|
|
|
$
|
126.50
|
|
|
$
|
1,126.50
|
|
|
12.650
|
%
|
$20.39
|
|
$
|
900.00
|
*
|
|
$
|
126.50
|
|
|
$
|
1,026.50
|
|
|
2.650
|
%
|
$18.13
|
|
$
|
800.00
|
*
|
|
$
|
126.50
|
|
|
$
|
926.50
|
|
|
7.350
|
%
|
$15.86
|
|
$
|
700.00
|
*
|
|
$
|
126.50
|
|
|
$
|
826.50
|
|
|
17.350
|
%
|
$10.88
|
|
$
|
600.00
|
*
|
|
$
|
126.50
|
|
|
$
|
726.50
|
|
|
27.350
|
%
|
$9.06
|
|
$
|
500.00
|
*
|
|
$
|
126.50
|
|
|
$
|
626.50
|
|
|
37.350
|
%
|
$4.35
|
|
$
|
400.00
|
*
|
|
$
|
126.50
|
|
|
$
|
526.50
|
|
|
47.350
|
%
|
$3.26
|
|
$
|
300.00
|
*
|
|
$
|
126.50
|
|
|
$
|
426.50
|
|
|
57.350
|
%
|
$0.87
|
|
$
|
200.00
|
*
|
|
$
|
126.50
|
|
|
$
|
326.50
|
|
|
67.350
|
%
|
$0.44
|
|
$
|
100.00
|
*
|
|
$
|
126.50
|
|
|
$
|
226.50
|
|
|
77.350
|
%
|
$0.00
|
|
$
|
0.00
|
*
|
|
$
|
126.50
|
|
|
$
|
126.50
|
|
|
87.350
|
%
|
*Payable in Reference Shares of InterOil Corporation.
TS-13
Description
of Rambus, Inc.
ISIN: US7509171069
Relevant Exchange: NASDAQ
According to its publicly available documents, Rambus Inc.
invents and licenses chip interface technologies that are
foundational to nearly all digital electronics products. Its
chip interface technologies are designed to improve the
time-to-market, performance, and cost-effectiveness of
semiconductor and system products for computing, communications
and consumer electronics applications. Information provided to
or filed with the SEC by Rambus Inc. pursuant to the Exchange
Act can be located on the SECs website by reference to SEC
file number
000-22339.
Historical
Performance of Rambus, Inc.
The following table sets forth the published
intra-day
high, low and closing prices of the Reference Shares since
December 31, 2004. We obtained the information in the
tables below from Bloomberg without independent verification
|
|
|
|
|
|
|
|
|
|
|
|
|
Period
|
|
High
|
|
|
Low
|
|
|
Period End
|
|
|
2005
|
|
|
|
|
|
|
|
|
|
|
|
|
First Quarter
|
|
$
|
22.88
|
|
|
$
|
13.12
|
|
|
$
|
15.07
|
|
Second Quarter
|
|
$
|
15.67
|
|
|
$
|
13.33
|
|
|
$
|
13.38
|
|
Third Quarter
|
|
$
|
14.64
|
|
|
$
|
10.29
|
|
|
$
|
12.10
|
|
Fourth Quarter
|
|
$
|
17.73
|
|
|
$
|
10.82
|
|
|
$
|
16.19
|
|
2006
|
|
|
|
|
|
|
|
|
|
|
|
|
First Quarter
|
|
$
|
39.81
|
|
|
$
|
18.20
|
|
|
$
|
39.34
|
|
Second Quarter
|
|
$
|
46.80
|
|
|
$
|
20.55
|
|
|
$
|
22.81
|
|
Third Quarter
|
|
$
|
24.33
|
|
|
$
|
10.26
|
|
|
$
|
17.44
|
|
Fourth Quarter
|
|
$
|
23.10
|
|
|
$
|
15.99
|
|
|
$
|
18.93
|
|
2007
|
|
|
|
|
|
|
|
|
|
|
|
|
First Quarter
|
|
$
|
23.50
|
|
|
$
|
17.39
|
|
|
$
|
21.25
|
|
Second Quarter
|
|
$
|
21.80
|
|
|
$
|
17.78
|
|
|
$
|
17.98
|
|
Third Quarter
|
|
$
|
19.32
|
|
|
$
|
12.46
|
|
|
$
|
19.11
|
|
Fourth Quarter
|
|
$
|
21.53
|
|
|
$
|
18.16
|
|
|
$
|
20.94
|
|
2008
|
|
|
|
|
|
|
|
|
|
|
|
|
First Quarter (through March 3, 2008)
|
|
$
|
20.43
|
|
|
$
|
15.52
|
|
|
$
|
17.62
|
|
TS-14
Table of
Hypothetical Returns of Rambus, Inc.
The following examples illustrate the rate of return on the
notes for a range of hypothetical Final Reference Levels on the
Determination Date assuming a hypothetical Initial Reference
Level of $17.62 and a hypothetical Knock-In Level of $8.81. In
these examples, the Knock-In Level Trigger never occurs
during the life of the notes. In each example, the
redemption Amount is paid in cash.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assumed Closing Price of
|
|
|
|
|
|
|
|
|
|
Reference Shares on Determination Date
|
|
Value of Payment at
|
|
|
6 Monthly Interest
|
|
|
|
|
(Rambus Inc.)
|
|
Maturity
|
|
|
Payments
|
|
|
6 Month Total Return
|
|
|
|
|
|
|
|
|
|
$
|
|
|
%
|
|
|
Greater than: $17.62
|
|
$
|
1,000.00
|
|
|
$
|
101.50
|
|
|
$
|
1,101.50
|
|
|
|
10.1500%
|
|
$17.62
|
|
$
|
1,000.00
|
|
|
$
|
101.50
|
|
|
$
|
1,101.50
|
|
|
|
10.1500%
|
|
$14.68
|
|
$
|
1,000.00
|
|
|
$
|
101.50
|
|
|
$
|
1,101.50
|
|
|
|
10.1500%
|
|
$11.75
|
|
$
|
1,000.00
|
|
|
$
|
101.50
|
|
|
$
|
1,101.50
|
|
|
|
10.1500%
|
|
$8.82
|
|
$
|
1,000.00
|
|
|
$
|
101.50
|
|
|
$
|
1,101.50
|
|
|
|
10.1500%
|
|
In the examples above, the price of the Reference Shares
fluctuates over the term of the notes and closes above the
Knock-In Level on the Determination Date.
The following examples illustrate the rate of return on the
notes for a range of hypothetical Final Reference Levels on the
Determination Date assuming a hypothetical Initial Reference
Level of $17.62 and a hypothetical Knock-In Level of $8.81. In
these examples, the Knock-In Level Trigger occurs during
the life of the notes.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assumed Closing Price of
|
|
|
|
|
|
|
|
|
|
Reference Shares on Determination Date
|
|
Value of Payment at
|
|
|
6 Monthly Interest
|
|
|
|
|
(Rambus Inc.)
|
|
Maturity
|
|
|
Payments
|
|
|
6 Month Total Return
|
|
|
|
|
|
|
|
|
|
$
|
|
|
%
|
|
|
Greater than: $17.62
|
|
$
|
1,000.00
|
|
|
$
|
101.50
|
|
|
$
|
1,101.50
|
|
|
|
10.150%
|
|
$17.62
|
|
$
|
1,000.00
|
|
|
$
|
101.50
|
|
|
$
|
1,101.50
|
|
|
|
10.150%
|
|
$15.86
|
|
$
|
900.00
|
*
|
|
$
|
101.50
|
|
|
$
|
1,001.50
|
|
|
|
0.150%
|
|
$14.10
|
|
$
|
800.00
|
*
|
|
$
|
101.50
|
|
|
$
|
901.50
|
|
|
|
−9.850%
|
|
$12.33
|
|
$
|
700.00
|
*
|
|
$
|
101.50
|
|
|
$
|
801.50
|
|
|
|
−19.850%
|
|
$8.46
|
|
$
|
600.00
|
*
|
|
$
|
101.50
|
|
|
$
|
701.50
|
|
|
|
−29.850%
|
|
$7.05
|
|
$
|
500.00
|
*
|
|
$
|
101.50
|
|
|
$
|
601.50
|
|
|
|
−39.850%
|
|
$3.38
|
|
$
|
400.00
|
*
|
|
$
|
101.50
|
|
|
$
|
501.50
|
|
|
|
−49.850%
|
|
$2.54
|
|
$
|
300.00
|
*
|
|
$
|
101.50
|
|
|
$
|
401.50
|
|
|
|
−59.850%
|
|
$0.68
|
|
$
|
200.00
|
*
|
|
$
|
101.50
|
|
|
$
|
301.50
|
|
|
|
−69.850%
|
|
$0.34
|
|
$
|
100.00
|
*
|
|
$
|
101.50
|
|
|
$
|
201.50
|
|
|
|
−79.850%
|
|
$0.00
|
|
$
|
0.00
|
*
|
|
$
|
101.50
|
|
|
$
|
101.50
|
|
|
|
−89.850%
|
|
*Payable in Reference Shares of Rambus Inc.
TS-15
Description
of XM Satellite Radio Holdings Inc.
ISIN: US9837591018
Relevant Exchange: NASDAQ
According to its publicly available documents, XM Satellite
Radio Holdings Inc. (XM) is a satellite radio service
company, providing music, news, talk, information, entertainment
and sports programming for reception by vehicle, home and
portable radios nationwide and over the Internet to over
7.7 million subscribers. XMs channel lineup includes
more than 170 digital channels of choice from coast to coast. XM
broadcasts from studios in Washington, DC, New York City,
including Jazz at Lincoln Center, and the Country Music Hall of
Fame in Nashville. Information provided to or filed with the SEC
by XM Satellite Radio Holdings Inc. pursuant to the Exchange Act
can be located on the SECs website by reference to SEC
file number
000-27441.
Historical
Performance of XM Satellite Radio Holdings Inc.
The following table sets forth the published
intra-day
high, low and closing prices of the Reference Shares since
December 31, 2004. We obtained the information in the
tables below from Bloomberg without independent verification
|
|
|
|
|
|
|
|
|
|
|
|
|
Period
|
|
High
|
|
|
Low
|
|
|
Period End
|
|
|
2005
|
|
|
|
|
|
|
|
|
|
|
|
|
First Quarter
|
|
$
|
36.20
|
|
|
$
|
28.04
|
|
|
$
|
31.63
|
|
Second Quarter
|
|
$
|
34.20
|
|
|
$
|
26.53
|
|
|
$
|
33.66
|
|
Third Quarter
|
|
$
|
36.93
|
|
|
$
|
32.80
|
|
|
$
|
35.91
|
|
Fourth Quarter
|
|
$
|
36.41
|
|
|
$
|
27.28
|
|
|
$
|
27.28
|
|
2006
|
|
|
|
|
|
|
|
|
|
|
|
|
First Quarter
|
|
$
|
29.94
|
|
|
$
|
20.17
|
|
|
$
|
22.27
|
|
Second Quarter
|
|
$
|
23.94
|
|
|
$
|
13.23
|
|
|
$
|
14.65
|
|
Third Quarter
|
|
$
|
14.93
|
|
|
$
|
10.36
|
|
|
$
|
12.90
|
|
Fourth Quarter
|
|
$
|
15.90
|
|
|
$
|
10.16
|
|
|
$
|
14.45
|
|
2007
|
|
|
|
|
|
|
|
|
|
|
|
|
First Quarter
|
|
$
|
17.14
|
|
|
$
|
12.92
|
|
|
$
|
12.92
|
|
Second Quarter
|
|
$
|
12.60
|
|
|
$
|
10.48
|
|
|
$
|
11.77
|
|
Third Quarter
|
|
$
|
14.84
|
|
|
$
|
10.55
|
|
|
$
|
14.17
|
|
Fourth Quarter
|
|
$
|
15.83
|
|
|
$
|
11.87
|
|
|
$
|
12.24
|
|
2008
|
|
|
|
|
|
|
|
|
|
|
|
|
First Quarter (through March 3, 2008)
|
|
$
|
13.56
|
|
|
$
|
10.22
|
|
|
$
|
11.26
|
|
TS-16
Table of
Hypothetical Returns of XM Satellite Radio Holdings
Inc.
The following examples illustrate the rate of return on the
notes for a range of hypothetical Final Reference Levels on the
Determination Date assuming a hypothetical Initial Reference
Level of $11.26 and a hypothetical Knock-In Level of $5.63. In
these examples, the Knock-In Level Trigger never occurs
during the life of the notes. In each example, the
redemption Amount is paid in cash.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assumed Closing Price of
|
|
|
|
|
|
|
|
|
|
Reference Shares on Determination Date
|
|
Value of Payment at
|
|
|
|
|
|
|
|
(XM Satellite Radio Holdings Inc.)
|
|
Maturity
|
|
|
6 Monthly Interest Payments
|
|
|
6 Month Total Return
|
|
|
|
|
|
|
|
|
|
$
|
|
|
%
|
|
|
Greater than: $11.26
|
|
$
|
1,000.00
|
|
|
$
|
125.00
|
|
|
$
|
1,125.00
|
|
|
|
12.5000%
|
|
$11.26
|
|
$
|
1,000.00
|
|
|
$
|
125.00
|
|
|
$
|
1,125.00
|
|
|
|
12.5000%
|
|
$9.38
|
|
$
|
1,000.00
|
|
|
$
|
125.00
|
|
|
$
|
1,125.00
|
|
|
|
12.5000%
|
|
$7.51
|
|
$
|
1,000.00
|
|
|
$
|
125.00
|
|
|
$
|
1,125.00
|
|
|
|
12.5000%
|
|
$5.64
|
|
$
|
1,000.00
|
|
|
$
|
125.00
|
|
|
$
|
1,125.00
|
|
|
|
12.5000%
|
|
In the examples above, the price of the Reference Shares
fluctuates over the term of the notes and closes above the
Knock-In Level on the Determination Date.
The following examples illustrate the rate of return on the
notes for a range of hypothetical Final Reference Levels on the
Determination Date assuming a hypothetical Initial Reference
Level of $11.26 and a hypothetical Knock-In Level of $5.63. In
these examples, the Knock-In Level Trigger occurs during
the life of the notes.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assumed Closing Price of
|
|
|
|
|
|
|
|
|
|
Reference Shares on Determination Date
|
|
Value of Payment at
|
|
|
6 Monthly Interest
|
|
|
|
|
(XM Satellite Radio Holdings Inc.)
|
|
Maturity
|
|
|
Payments
|
|
|
6 Month Total Return
|
|
|
|
|
|
|
|
|
|
$
|
|
|
%
|
|
|
Greater than: $11.26
|
|
$
|
1,000.00
|
|
|
$
|
125.00
|
|
|
$
|
1,125.00
|
|
|
|
12.500%
|
|
$11.26
|
|
$
|
1,000.00
|
|
|
$
|
125.00
|
|
|
$
|
1,125.00
|
|
|
|
12.500%
|
|
$10.13
|
|
$
|
900.00
|
*
|
|
$
|
125.00
|
|
|
$
|
1,025.00
|
|
|
|
2.500%
|
|
$9.01
|
|
$
|
800.00
|
*
|
|
$
|
125.00
|
|
|
$
|
925.00
|
|
|
|
−7.500%
|
|
$7.88
|
|
$
|
700.00
|
*
|
|
$
|
125.00
|
|
|
$
|
825.00
|
|
|
|
−17.500%
|
|
$5.40
|
|
$
|
600.00
|
*
|
|
$
|
125.00
|
|
|
$
|
725.00
|
|
|
|
−27.500%
|
|
$4.50
|
|
$
|
500.00
|
*
|
|
$
|
125.00
|
|
|
$
|
625.00
|
|
|
|
−37.500%
|
|
$2.16
|
|
$
|
400.00
|
*
|
|
$
|
125.00
|
|
|
$
|
525.00
|
|
|
|
−47.500%
|
|
$1.62
|
|
$
|
300.00
|
*
|
|
$
|
125.00
|
|
|
$
|
425.00
|
|
|
|
−57.500%
|
|
$0.43
|
|
$
|
200.00
|
*
|
|
$
|
125.00
|
|
|
$
|
325.00
|
|
|
|
−67.500%
|
|
$0.22
|
|
$
|
100.00
|
*
|
|
$
|
125.00
|
|
|
$
|
225.00
|
|
|
|
−77.500%
|
|
$0.00
|
|
$
|
0.00
|
*
|
|
$
|
125.00
|
|
|
$
|
125.00
|
|
|
|
−87.500%
|
|
*Payable in Reference Shares of XM Satellite Radio Holdings Inc.
TS-17
Cgm Elks FM Cop & Gold (AMEX:EKF)
Historical Stock Chart
From Jun 2024 to Jul 2024
Cgm Elks FM Cop & Gold (AMEX:EKF)
Historical Stock Chart
From Jul 2023 to Jul 2024