By Jennifer Chiou
New York, May 4 - Goldman, Sachs & Co. priced a $10 million issue of total return notes due May 23, 2008 linked to the Standard & Poor's Diversified Trends Indicator - Total Return for issuer AB Svensk Exportkredit, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will equal Libor minus 27 basis points per year, with a floor of zero. 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 1.5% 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: | $10 million
|
| Maturity: | May 23, 2008
|
| Coupon: | Libor minus 27 bps per year, floor of zero; payable and reset quarterly
|
| Price: | Par
|
| Call: | If index drops by 15% or more
|
| 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 1.5% annual fee
|
| Initial index level: | 1,356.437
|
| Pricing date: | May 2
|
| Settlement date: | May 16
|
| Underwriter: | Goldman, Sachs & Co.
|
| Underwriting discount: | 0.25%
|
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