Goldman Sachs to price S&P GSCI Reduced Energy-linked notes for Svensk

By Angela McDaniels

Seattle, Aug. 14 - Goldman, Sachs & Co. plans to price zero-coupon notes due February 2009 linked to the S&P GSCI Reduced Energy Alpha Excess Return Strategy and the S&P GSCI Reduced Energy Excess Return index for issuer AB Svensk Exportkredit, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus any increase in the final ratio - the final strategy level divided by the final index level - over the initial ratio multiplied by the upside participation factor, which is expected to be 160% to 180% and will be determined at pricing.

Investors will be fully exposed to any decline in the final ratio compared with the initial ratio.

The notes will price and settle sometime in August.

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