By Angela McDaniels
Tacoma, Wash., Dec. 8 - AB Svensk Exportkredit priced $10 million of floating-rate commodity index-linked notes due Jan. 13, 2010 linked to the Dow Jones - AIG Commodity Index Total Return via Merrill Lynch & Co., according to an FWP filing with the Securities and Exchange Commission.
Interest equals Libor minus 27 basis points. It will be reset quarterly and payable at maturity.
The payout at maturity, in addition to interest, will be par of $100,000 plus triple the sum of the index return minus the T-Bill yield minus a fee of 0.4% per year. The T-Bill yield will be the sum of the 91-day weekly auction high rate for U.S. Treasury bills for each day during the life of the notes.
The notes are putable at any time if requested by all holders, and the notes will be called if the index closes at 15% or more below its initial level. In each case, the payout will be calculated in the same way as at maturity.
| Issuer: | AB Svensk Exportkredit
|
| Issue: | Commodity index-linked notes
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| Underlying index: | Dow Jones - AIG Commodity Index Total Return
|
| Amount: | $10 million
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| Maturity: | Jan. 13, 2010
|
| Coupon: | Libor minus 27 bps, reset quarterly and payable at maturity
|
| Price: | Par of $100,000
|
| Payout at maturity: | Par plus 300% of the sum of the index return minus the T-Bill yield minus a fee of 0.4% per year
|
| Put option: | At any time if requested by all holders; payout calculated in same way as at maturity
|
| Call: | Automatically if index closes at 85% of its initial level or below; payout calculated in same way as at maturity
|
| Pricing date: | Dec. 8
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| Settlement date: | Dec. 17
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| Underwriter: | Merrill Lynch & Co.
|
| Fees: | None
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