New Issue: Goldman Sachs prices $73.25 million 0% leveraged bear notes linked to euro for Svensk

By Susanna Moon

Chicago, March 10 - AB Svensk Exportkredit priced $73.25 million of 0% leveraged bear notes due April 28, 2009 linked to the euro against the dollar, according to an FWP filing with the Securities and Exchange Commission.

Goldman, Sachs & Co. is the underwriter.

If the euro falls against the dollar, the payout at maturity will be par plus 1½ times the absolute value of the percentage drop in the exchange rate. If the euro gains against the dollar, investors will lose 1% for each 1% increase in the exchange rate.

The principal amount may be upsized before the issue date.

Issuer:	AB Svensk Exportkredit
Issue:	Leveraged bear notes
Underlying currency:	Euro relative to the dollar
Amount:	$73,252,000
Maturity:	April 28, 2009
Coupon:	0%
Price:	Par
Payout at maturity:	If euro falls against dollar, par plus 1½ times the absolute value of the percentage drop in exchange rate; 1% loss for each 1% gain in the euro versus the dollar
Initial exchange rate:	1.5 dollar per euro
Pricing date:	March 7
Settlement date:	March 28
Underwriter:	Goldman, Sachs & Co.
Fees:	0.25%

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