New Issue: Morgan Stanley sells $4.67 million notes linked to indexes with 84.5% participation for Svensk

By Jennifer Chiou

New York, May 16 - AB Svensk Exportkredit priced $4.67 million of zero-coupon principal-protected notes due Dec. 6, 2014 linked to an index basket, according to an FWP filing with the Securities and Exchange Commission.

The basket consists of the MSCI EAFE index with a 48% weight, the S&P 500 index with a 46% weight and the MSCI Emerging Markets index with a 6% weight.

If the final basket level is at least the initial level, the payout at maturity will be par plus 84.5% of any basket gain. Otherwise, the payout will be par.

Morgan Stanley & Co. Inc. is the agent.

Issuer:	AB Svensk Exportkredit
Issue:	Principal-protected notes
Underlying indexes:	MSCI EAFE (48% weight), S&P 500 (45% weight) and MSCI Emerging Markets (6% weight)
Amount:	$4,666,000
Maturity:	Dec. 6, 2014
Coupon:	0%
Price:	Par
Payout at maturity:	If final level is at least initial level, par plus 84.5% of any basket gain; otherwise par
Initial index levels:	2,171.51 for MSCI EAFE; 1,423.57 for S&P 500; 1,221.40 for MSCI Emerging Markets
Pricing date:	May 15
Settlement date:	May 22
Agent:	Morgan Stanley & Co.
Fees:	2.4%

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