By Jennifer Chiou
New York, Feb. 29 - AB Svensk Exportkredit priced $32.5 million of 0% Accelerated Return Bear Market Notes due May 5, 2009 linked to the S&P 500 index via underwriter Merrill Lynch & Co., according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level less than the initial level, the payout will be par plus 500% of the absolute value of any decline in the index, capped at 112.6% of par.
Otherwise, the payout will be par for gains up to 10%. Investors will share in losses beyond the 10% gain.
Merrill Lynch said it will list the notes on the American Stock Exchange under the symbol "BJV."
| Issuer: | AB Svensk Exportkredit
|
| Issue: | Accelerated Return Bear Market Notes
|
| Underlying index: | S&P 500
|
| Amount: | $32.5 million
|
| Maturity: | May 5, 2009
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus five times the absolute value of any basket drop, capped at maximum return of 12.6%; par for gains up to 10%; investors share in losses beyond 10% gain
|
| Initial index levels: | 1,380.02
|
| Pricing date: | Feb. 27
|
| Settlement date: | March 5
|
| Underwriter: | Merrill Lynch & Co.
|
| Fees: | 2%
|
| Listing: | Amex: BJV
|
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