US Wrap: Eksportfinans accelerated growth product only offers beta returns

After an extensive issuance programme coming out of many of the US banks, the latest offering is much smaller. The accelerated growth product from Eksportfinans, a non-bank issuer, has a longer term than most of this type of product, with a three-year maturity.

Despite being classed as accelerated growth, the Access Securities with Capped Upside and Contingent Downside Protection Linked to the S&P 500 Index only offer 100% participation in any rise of the index, capped at 35-45%. There is a 60%

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