Published on 6/3/2011 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $31 million notes on S&P GSCI Excess Return for Svensk
By Jennifer Chiou
New York, June 3 - AB Svensk Exportkredit priced $31 million of excess return index-linked notes due June 13, 2012 tied to the S&P GSCI Excess Return index via Goldman Sachs & Co., according to an FWP with the Securities and Exchange Commission.
Interest will be payable quarterly and will be reset on Sept. 9, 2011, Dec. 9, 2011 and March 9, 2012. It will initially be equal to Libor minus 45 basis points, and for the interest period ending on the day before maturity, it will be calculated using the Libor of the longest maturity that is less than or equal to the length of that particular interest period and the Libor of the shortest period that is greater than or equal to the length of the period. The coupon has a floor of zero.
The payout at maturity will be par plus triple the change in the index less three times the final fee of 0.2% per year. Investors will be fully exposed to any losses, but will not receive less than zero.
| Issuer: | AB Svensk Exportkredit
|
| Issue: | Excess return index-linked notes
|
| Underlying index: | S&P GSCI Excess Return
|
| Amount: | $31 million
|
| Maturity: | June 13, 2012
|
| Coupon: | Initially Libor minus 45 basis points; for interest period ending on the day before maturity, calculated using the Libor of the longest maturity that is less than or equal to the length of that particular interest period and the Libor of the shortest period that is greater than or equal to the length of the period; floor of zero; payable quarterly and reset on Sept. 9, 2011, Dec. 9, 2011 and March 9, 2012
|
| Price: | Par
|
| Payout at maturity: | Par plus triple the change in the index less three times the final fee of 0.2% per year; full exposure to losses with floor of zero
|
| Initial index level: | 514.0395
|
| Pricing date: | June 2
|
| Settlement date: | June 9
|
| Agent: | Goldman Sachs & Co.
|
| Fees: | 0.25%
|
© 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.
