By Jennifer Chiou
New York, Dec. 3 - AB Svensk Exportkredit priced $10 million of floating-rate notes due Jan. 15, 2010 linked to the Merrill Lynch Commodity Index eXtra A 01 Total Return via underwriters Merrill Lynch & Co., according to an FWP with the Securities and Exchange Commission.
The index is a modified version of the Merrill Lynch Commodity index eXtra, which comprises aluminum, coffee, copper, corn, cotton, crude oil, gold, heating oil, lean hogs, live cattle, natural gas, nickel, silver, soybeans, soybean oil, sugar, unleaded gasoline, wheat and zinc.
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 0.4% 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 15% or more. In both cases, the payout will be determined in the same way as the payout at maturity.
| Issuer: | AB Svensk Exportkredit
|
| Issue: | Floating-rate notes
|
| Underlying index: Merrill Lynch Commodity Index eXtra A 01 Total Return
|
| Amount: | $10 million
|
| Maturity: | Jan. 15, 2010
|
| Coupon: | Libor minus 27 bps
|
| Price: | Par
|
| Payout at maturity: | Par plus 300% of the index return minus a fee that totals 0.4% per year
|
| Put: | At any time by a holder at par
|
| Call: | Automatically if the index declines by 15% or more
|
| Pricing date: | Dec. 3
|
| Settlement date: | Dec. 12
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| Underwriter: | Merrill Lynch & Co.
|
| Fees: | 2%
|
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