By Laura Lutz
Des Moines, Aug. 17 - AB Svensk Exportkredit priced a $1.576 million issue of range accrual notes due Aug. 23, 2017 linked to three-month Libor via underwriter Banc of America Securities LLC, according to a 424B2 filing with the Securities and Exchange Commission.
For each three-month interest period, interest will accrue at a base rate for each day the three-month Libor is within a specified range.
The base rate will be 8% per year until Aug. 22, 2011 and 9% thereafter.
The accrual range will be 4.5% to 7% until Aug 22, 2009, 4% to 7% from then until Aug. 22, 2011 and 0% to 7% thereafter.
The notes are callable, in whole but not in part, at par plus accrued interest on any interest payment date beginning Nov. 23, 2007.
If the notes are not called, the payout at maturity will be par plus accrued interest, if any.
| Issuer: | AB Svensk Exportkredit
|
| Issue: | Libor range accrual notes
|
| Amount: | $1.576 million
|
| Maturity: | Aug. 23, 2017
|
| Coupon: | For each quarter, base rate times proportion of days that three-month Libor is within a given range; base rate is 8% until Aug. 22, 2011 and 9% thereafter; range is 4.5% to 7% until Aug. 22, 2009, 4% to 7% from then until Aug. 22, 2011 and 0% to 7% thereafter
|
| Price: | Par
|
| Payout at maturity: | Par plus accrued interest
|
| Call: | At par plus accrued interest on any interest payment date beginning Nov. 23, 2007
|
| Pricing date: | Aug. 14
|
| Settlement date: | Aug. 23
|
| Underwriter: | Banc of America Securities LLC
|
| Fees: | 1.5%
|
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