Published on 7/26/2007 in the Prospect News Structured Products Daily.
New Issue: Banc of America prices $2.722 million foreign-exchange basket notes for Svensk
By Jennifer Chiou
New York, July 26 - Banc of America Securities LLC priced $2.722 million of zero-coupon foreign-exchange basket notes due July 27, 2009 linked to a basket of currencies for issuer AB Svensk Exportkredit, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the Canadian dollar, Australian dollar and New Zealand dollar, equally weighted.
The payout at maturity will be par plus any appreciation of the basket currencies against the U.S. dollar multiplied by the participation factor of 285%. If the basket currencies depreciate against the U.S. dollar, the payout will be par.
Issuer: | AB Svensk Exportkredit
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Issue: | Foreign-exchange basket notes
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Underlying basket: | Canadian dollar, Australian dollar and New Zealand dollar, all against the U.S. dollar, equally weighted
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Amount: | $2.722 million
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Maturity: | July 27, 2009
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 285% of any basket increase; otherwise, par
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Initial exchange rates: | Canadian dollar at 1.0375, Australian dollar at 1.13058, New Zealand dollar at 1.23686
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Pricing date: | July 24
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Settlement date: | July 27
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Underwriter: | Banc of America Securities LLC
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Fees: | 1.25%
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