By Laura Lutz
Des Moines, Feb. 22 - AB Svensk Exportkredit priced an additional $32 million of 0% Elements due Oct. 24, 2022 linked to the Rogers International Commodity Index - Agriculture Total Return in two tranches via Nuveen Investments and Merrill Lynch & Co. in two tranches, according to 424B2 filings with the Securities and Exchange Commission.
These tranches bring the total deal size to $232.5 million. One tranche priced at 129.45 on Feb. 25, and the other priced at 129.63 on Feb. 26.
Originally, $4 million of the notes priced at par on Oct. 17. From then to Feb. 20, $196.5 million more of notes priced in 30 tranches, at prices ranging from 99.899 to 120.763.
The company has registered and may issue up to $250 million of the notes.
The index represents the value of a basket of 20 agricultural commodity futures contracts and is a sub-index of the Rogers International Commodity Index - Total Return, which is a composite, dollar-based, total return index representing the value of a basket of commodities consumed in the global economy.
The payout at maturity will be par plus the index return, less an annual investor fee of 0.75% times the proportion of days elapsed.
Beginning Jan. 28, 2008, holders may put back the notes on a weekly repurchase date. There is a minimum put requirement of $5 million of notes.
The notes were approved for listing on the American Stock Exchange under the symbol "RJA."
| Issuer: | AB Svensk Exportkredit
|
| Issue: | Elements
|
| Underlying index: | Rogers International Commodity Index - Agriculture Total Return
|
| Amount: | $232.5 million, upsized from $4 million
|
| Maturity: | Oct. 24, 2022
|
| Coupon: | 0%
|
| Price: | Par for original $4 million; 129.45 for $12 million; 129.63 for $20 million
|
| Payout at maturity: | Par plus index return minus investor fee of 0.75% times proportion of days elapsed
|
| Put: | On weekly repurchase dates beginning Jan. 28, 2008
|
| Pricing date: | Oct. 17 for original $4 million; Feb. 25 for $12 million; Feb. 26 for $20 million
|
| Settlement date: | Oct. 24 for original $4 million; Feb. 29 for $12 million; March 3 for $20 million
|
| Agents: | Nuveen Investments and Merrill Lynch & Co.
|
| Listing: | Amex: RJA
|
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