New Issue: Goldman Sachs upsizes principal-protected BRIC notes to $15.903 million for Svensk

By Angela McDaniels

Seattle, May 23 - Goldman, Sachs & Co. priced $3.452 million additional zero-coupon principal-protected BRIC notes due April 8, 2008 linked to a basket of currencies for issuer AB Svensk Exportkredit, according to a 424B2 filing with the Securities and Exchange Commission.

Goldman Sachs priced $12.451 million of the notes on May 14. The total amount of notes priced is now $15.903 million.

The underlying basket includes the Brazilian real, Russian ruble, Indian rupee and Chinese renminbi, each with a 25% weight, and the dollar with a negative 100% weight.

If the basket increases by 2% or more, the payout at maturity will be par plus 10%. Otherwise, the payout will be par.

Issuer:	AB Svensk Exportkredit
Issue:	Principal-protected BRIC notes
Underlying basket:	Brazilian real (25% weight), Russian ruble (25% weight), Indian rupee (25% weight), Chinese renminbi (25% weight), dollar (negative 100% weight)
Amount:	$15.903 million, upsized from $12.451 million
Maturity:	April 8, 2008
Coupon:	0%
Price:	Par for first tranche, 100.485 for second tranche
Payout at maturity:	Par plus 10% if basket increases by 2% or more; otherwise, par
Initial exchange rates:	2.012 reais per dollar, 25.785 rubles per dollar, 40.75 rupee per dollar, 7.6775 renminbi per dollar
Pricing date:	May 14 for first tranche, May 21 for second tranche
Settlement date:	May 29
Underwriter:	Goldman, Sachs & Co.
Fees:	0.25%

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