Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers O > Headlines for Oracle Corp. > News item |
Merrill plans 9.5% STEP Income Securities tied to Oracle for Svensk
By Jennifer Chiou
New York, Dec. 29 - AB Svensk Exportkredit plans to price 9.5% STEP Income Securities due January 2013 linked to Oracle Corp. shares, according to an FWP with the Securities and Exchange Commission.
Interest will be payable quarterly.
If the price of Oracle shares finishes at or above the step level - 109.5% of the initial price - the payout at maturity will be par of $10 plus a step payment of 1% to 5% that will be set at pricing.
If the stock finishes at or above the initial price but below the step level, the payout will be par. Investors will be exposed to losses.
The notes are expected to price and settle in January.
Bank of America Merrill Lynch is the agent.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.