By Toni Weeks
San Diego, July 8 - AB Svensk Exportkredit priced another $2 million of 0% Elements due Feb. 13, 2023 linked to the MLCX Grains Index - Total Return via Nuveen Investments, LLC and Bank of America Merrill Lynch, according to a 424B3 filing with the Securities and Exchange Commission.
The notes settled in four tranches between May 3 and July 7. Svensk settled $500,000 at 76.651 on May 3, $500,000 at 75.666 on May 27, $500,000 at 74.464 on May 31 and $500,000 at 67.111 on June 30.
In total, the company has priced $70.25 million principal amount of the notes in 39 tranches. The original $4 million of the notes priced at par of $10 on Feb. 14, 2008.
The payout at maturity will be par plus the index return, which could be positive or negative, less an annual investor fee of 0.75%.
The notes are putable on weekly repurchase dates, subject to a minimum of $5 million of notes.
The notes are listed on NYSE Arca under the symbol "GRU."
| Issuer: | AB Svensk Exportkredit
|
| Issue: | Elements
|
| Underlying index: | MLCX Grains Index - Total Return
|
| Amount: | $70.25 million, increased from $4 million
|
| Maturity: | Feb. 13, 2023
|
| Coupon: | 0%
|
| Price: | Par of $10 for $4 million; 67.111 to 76.651 for latest add-ons
|
| Payout at maturity: | Par plus the index return less an annual investor fee of 0.75%
|
| Put option: | On weekly repurchase dates subject to minimum of $5 million
|
| Inception date: | Feb. 5, 2008 for original $4 million
|
| Settlement dates: | Feb. 14, 2008 for original $4 million; May 3 to July 7 for latest add-ons
|
| Underwriters: | Nuveen Investments, LLC and Bank of America Merrill Lynch
|
| Listing: | NYSE Arca: GRU
|
| Cusip: | 870297199
|
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