Doubt on using AWK

Shell Programming and Scripting
1 
DE_CODE|1{AXXANY}1APP_NAME|2{TELCO}2LOC|NY
DE_CODE|1{AXXATX}1APP_NAME|2{TELCO}2LOC|TX
DE_CODE|1{AXXABT}1APP_NAME|2{TELCO}2LOC|BT
DE_CODE|1{AXXANJ}1APP_NAME|2{TELCO}2LOC|NJ

i have out put file like below i have to convert it in the format as below.

DE_CODE = AXXANY
APP_NAME= TELCO
LOC = NY

==

i am going use a for loop or whole loop which will convert each line and process it.
could someone please help it

2 
$ awk -F"[{}]" '{printf("DE_CODE = %s\nAPP_NAME = %s\nLOC = %s\n",$2,$4,substr($NF,length($NF)-1,length($NF)))}' input.txt
DE_CODE = AXXANY
APP_NAME = TELCO
LOC = NY
DE_CODE = AXXATX
APP_NAME = TELCO
LOC = TX
DE_CODE = AXXABT
APP_NAME = TELCO
LOC = BT
DE_CODE = AXXANJ
APP_NAME = TELCO
LOC = NJ
3

its not working and also i dont want to mention the DE CODE, directly i the command.
it should take it from the variable
eg : $1 ,$3 are the header
and $2 and $4 are the data.

i tried like this, but not working

awk -F"|" '{printf("$1 = %s\n $3 = %s\n $5 = %s\n",$2,$4,substr($NF,length($NF)-1,length($NF)))}' spool.log
4

Try this one:

awk '{gsub("\|"," = ")
      gsub("}","\n")
      gsub(/[0-9{]/,"")
     }
     1
    ' inputfile
DE_CODE = AXXANY
APP_NAME = TELCO
LOC = NY
DE_CODE = AXXATX
APP_NAME = TELCO
LOC = TX
DE_CODE = AXXABT
APP_NAME = TELCO
LOC = BT
DE_CODE = AXXANJ
APP_NAME = TELCO
LOC = NJ
5 
awk -F'\\|[0-9]*{*|}[0-9]*' '{print $1,$2 RS $3,$4 RS $5,$6}' OFS=" = " infile