Banc of America Securities to price CMS range accrual notes for Svensk

By Jennifer Chiou

New York, Oct. 24 - AB Svensk Exportkredit plans to price CMS range accrual notes due October 2018 via Banc of America Securities LLC, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable quarterly and will equal a base rate multiplied by the proportion of days on which the spread of the 10-year Constant Maturity Swap rate over the two-year CMS rate is at least 25 basis points. The base rate is expected to be at least 7% per year and will be set at pricing.

Beginning Jan. 30, 2009, the notes will be callable at par on any interest payment date.

If the notes are not called, the payout at maturity will be par.

The notes are expected to price on Oct. 27 and settle on Oct. 30.

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