By Laura Lutz
Des Moines, May 2 - AB Svensk Exportkredit sold $20 million additional 0% Elements due Oct. 24, 2022 linked to the Rogers International Commodity Index - Total Return via underwriters Nuveen Investments and Merrill Lynch & Co. in three tranches, according to a 424B3 filing with the Securities and Exchange Commission.
Svensk sold $5 million of notes at 124.779 on April 21, $5 million of notes at 125.765 on April 23 and $10 million of notes at 126.328 on April 29.
These tranches brought the total deal size to $107.5 million.
Originally, $4 million of the notes priced at par on Oct. 17. From then through Feb. 29, the company priced $83.5 million additional notes in multiple tranches at prices ranging from 101.426 to 123.63.
The index 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 equal to 0.75% multiplied by the proportion of days elapsed.
The notes are putable on weekly repurchase dates. There is a minimum put requirement of $5 million of securities.
The notes were approved for listing on the American Stock Exchange under the symbol "RJI."
| Issuer: | AB Svensk Exportkredit
|
| Issue: | Elements
|
| Underlying index: | Rogers International Commodity Index - Total Return
|
| Amount: | $107.5 million, upsized from $4 million
|
| Maturity: | Oct. 24, 2022
|
| Coupon: | 0%
|
| Price: | Par (for $4 million); 124.779 (for $5 million); 125.765 (for $5 million); 126.328 (for $10 million)
|
| Payout at maturity: | Par plus the index return less an investor fee of 0.75% times the proportion of days elapsed
|
| Put: | On weekly repurchase dates
|
| Pricing dates: | Oct. 17 (for original $4 million)
|
| Settlement dates: | Oct. 24 (for original $4 million); April 21 (for $5 million); April 23 (for $5 million); April 29 (for $10 million)
|
| Underwriters: | Nuveen Investments, Merrill Lynch & Co.
|
| Listing: | Amex: RJI
|
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