By Angela McDaniels
Tacoma, Wash., Oct. 28 - AB Svensk Exportkredit priced $56 million of floating-rate notes due Dec. 9, 2009 linked to the S&P GSCI Excess Return index via Goldman, Sachs & Co., according to an FWP filing with the Securities and Exchange Commission.
Interest is payable quarterly and equals Libor minus 27 basis points.
The payout at maturity will be par plus 300% of the index return minus a fee that totals 0.6% per year.
The notes are putable at any time by a holder of 100% of the notes, and the notes will be called if the index declines by 12% or more. In both cases, the payout will be determined in the same way as the payout at maturity.
| Issuer: | AB Svensk Exportkredit
|
| Issue: | Notes
|
| Underlying index: | S&P GSCI Excess Return index
|
| Amount: | $56 million
|
| Maturity: | Dec. 9, 2009
|
| Coupon: | Libor minus 27 bps, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par plus 300% of index return minus triple a fee of 0.2% per year
|
| Put option: | At any time by a holder of all the notes; payout determined in same way as at maturity
|
| Call: | Automatically if index declines by 12% or more; payout determined in same way as at maturity
|
| Initial index level: | 501.2245
|
| Pricing date: | Oct. 27
|
| Settlement date: | Nov. 3
|
| Underwriter: | Goldman, Sachs & Co.
|
| Fees: | 0.25%
|
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