By E. Janene Geiss
Philadelphia, Dec. 5 - AB Svensk Exportkredit priced $9.3 million of 0% notes due Jan.15, 2010 linked to the MLCX - Enhanced Benchmark B04 Total Return via Merrill Lynch, Pierce, Fenner & Inc. and First Republic Securities Co., LLC, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is Libor minus 27 basis points and is payable quarterly.
At maturity, investors will receive triple the positive or negative return on the index, less fees and an amount based on the 91-day Treasury bill yield.
The notes will be called if on any business day the index closes at 15% or more below its initial level. If the index declines by 15% or more intraday, then the calculation agent may, at its option, call the notes. In both cases, the payout calculation will be the same as that to be used at maturity.
Holders can put the notes back at any time and receive a payout calculated in the same way as that at maturity.
| Issuer: | AB Svensk Exportkredit
|
| Issue: | Commodity index-linked notes
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| Underlying index: MLCX - Enhanced Benchmark B04 Total Return
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| Amount: | $9.3 million
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| Maturity: | Jan. 15, 2010
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| Coupon: | Libor minus 27 bps, payable quarterly
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| Price: | Par
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| Payout at maturity: | Par plus triple the positive or negative return on the index, less fees and less the 91-day Treasury bill yield
|
| Call: | Automatically if index hits 85% of the initial level
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| Put option: | At any time
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| Pricing date: | Dec. 5
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| Settlement date: | Dec. 12
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| Underwriter: | Merrill Lynch & Co., Inc.
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