New Issue: Goldman Sachs prices $2.038 million S&P GSCI Reduced Energy-linked notes for Svensk

By Angela McDaniels

Seattle, Aug. 20 - Goldman, Sachs & Co. priced $2.038 million of zero-coupon notes due Feb. 27, 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 an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 160% of any increase in the final ratio - the final strategy level divided by the final index level - over the initial ratio. Investors will be fully exposed to any decline in the final ratio compared with the initial ratio.

Issuer:	AB Svensk Exportkredit
Issue:	Notes
Underlying indexes:	S&P GSCI Reduced Energy Alpha Excess Return Strategy, S&P GSCI Reduced Energy Excess Return index
Amount:	$2.038 million
Maturity:	Feb. 27, 2009
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 160% of any increase in the ratio; full exposure to any ratio decline Initial ratio:	0.60654, initial strategy level divided by the initial index level
Pricing date:	Aug. 17
Settlement date:	Aug. 31
Underwriter:	Goldman, Sachs & Co.
Fees:	0.25%

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