By Angela McDaniels
Seattle, March 8 - AB Svensk Exportkredit priced an additional $3 million total return notes due March 19, 2008 linked to the Standard & Poor's Diversified Trends Indicator - Total Return, according to a 424B2 filing with the Securities and Exchange Commission.
The company priced $5 million of the notes via Goldman, Sachs & Co. on Monday. The total amount of notes outstanding is now $8 million.
Interest will equal Libor minus a spread of 27 basis points per year. Interest will be paid and reset quarterly.
The payout at maturity will be par plus triple any positive or negative return on the index, minus the final Treasury bill amount and minus a 2% annual fee. The final Treasury bill amount will equal the sum of the auction high rate of the three-month U.S. Treasury bill for each day during the life of the notes.
The notes are putable at any time, and the redemption amount will be calculated in the same manner as the payout at maturity.
If the index falls by 15% or more, the notes will be called and the redemption amount will be calculated using the closing value of the index on the day prior to the call.
| Issuer: | AB Svensk Exportkredit
|
| Issue: | Total return notes
|
| Underlying index: | Standard & Poor's Diversified Trends Indicator - Total Return
|
| Amount: | $8 million, upsized from $5 million
|
| Maturity: | March 19, 2008
|
| Coupon: | Libor minus a spread of 27 basis points per year, payable and reset quarterly
|
| Price: | Par for first tranche, 100.37 for second tranche
|
| Call: | If index drops by more than 15%
|
| Put: | At any time
|
| Payout at maturity: | Par plus triple any positive or negative return on the index, minus the final Treasury bill amount and minus a 2% annual fee
|
| Initial index level: | 1,328.742
|
| Pricing date: | March 5 for first tranche, March 6 for second tranche
|
| Settlement date: | March 12
|
| Underwriter: | Goldman, Sachs & Co.
|
| Underwriting discount: | 0.25%
|
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