By Laura Lutz
Des Moines, May 2 - AB Svensk Exportkredit announced a second $4 million sale under its previously announced offering of up to $250 million of 0% Elements due Feb. 14, 2023 linked to the MLCX Grains Index - Total Return, according to a 424B2 filing with the Securities and Exchange Commission.
This tranche priced at 97.801 and settled on April 17. It brings the total deal size to $8 million. The first $4 million sold on Feb. 14.
Nuveen Investments and Merrill Lynch & Co. are the agents.
These notes, which are priced at par, are the first sold in the issue.
The index is designed to provide a benchmark for the grains sector and for investment in commodities as an asset class. The index comprises futures contracts on corn, soybeans, soy meal and wheat.
At maturity, investors will receive par plus the index return, less an annual investor fee of 0.75% times the proportion of days elapsed.
Beginning May 19, 2008, holders may put back the notes for repurchase on a weekly repurchase date. There is a minimum put requirement of $5 million of securities.
The securities were approved for listing on the American Stock Exchange under the symbol "GRU."
| Issuer: | AB Svensk Exportkredit
|
| Issue: | Elements
|
| Underlying index: | MLCX Grains Index - Total Return
|
| Amount: | $250 million maximum; $8 million so far
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| Maturity: | Feb. 14, 2023
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| Coupon: | 0%
|
| Price: | Par (for $4 million); 97.801 (for $4 million)
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| 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 beginning May 19, 2008
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| Inception date: | Feb. 5
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| Settlement date: | Feb. 14 (for $4 million); April 17 (for $4 million)
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| Agents: | Nuveen Investments, Merrill Lynch & Co.
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| Listing: | Amex: GRU
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