By Laura Lutz
Des Moines, Dec. 6 - AB Svensk Exportkredit priced $67.47 million of 12.5% exchangeable notes due Dec. 12, 2008 linked to the common stock of Exxon Mobil Corp. via agent Goldman, Sachs & Co., according to an FWP filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes priced at par of $89.908.
If the final share price is less than the protection price - 80% of the initial price - the payout at maturity will be equal to the protection price times the downside exchange ratio, 0.8889.
If the final share price is greater than the protection price and less than the lower strike price - 112.5% of the initial price - the payout will be the final share price multiplied by the downside exchange ratio.
If the final share price is at least the lower strike price and less than the upper strike price - 119.5% of the initial price - the payout will be par.
If the final share price is at least the upper strike price, the payout will be par plus 65% of any gain on the share price.
| Issuer: | AB Svensk Exportkredit
|
| Issue: | Exchangeable notes
|
| Underlying stock: | Exxon Mobil Corp. (NYSE: XOM)
|
| Amount: | $67,466,963.20
|
| Maturity: | Dec. 12, 2008
|
| Coupon: | 12.5%, payable monthly
|
| Price: | Par of $89.908
|
| Payout at maturity: | If final price is less than protection price, $63.935 per note; if final price is at least protection price and less than lower strike price, 88.89% of final share price; if final price is at least lower strike price and less than upper strike price, par; if final price is at least upper strike price, par plus 65% of share price gain
|
| Initial price: | $89.908
|
| Protection price: | $71.926, 80% of initial price
|
| Lower strike price: | $101.147, 112.5% of initial price
|
| Upper strike price: | $107.44, 119.5% of initial price
|
| Pricing date: | Dec. 5
|
| Settlement date: | Dec. 12
|
| Agent: | Goldman, Sachs & Co.
|
| Fees: | 1%
|
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