Goldman Sachs plans to price 0% leveraged bear notes linked to New Zealand dollar for Svensk

By Susanna Moon

Chicago, May 23 - AB Svensk Exportkredit plans to price 0% leveraged bear notes due 2009 linked to the performance of the New Zealand dollar relative to a basket of currencies via underwriter Goldman, Sachs & Co., according to a 424B2 filing with the Securities and Exchange Commission.

The basket contains equal weights of the Brazilian real, Norwegian krone and U.S. dollar.

If the basket gains against the New Zealand dollar, the payout at maturity will be par plus 1.45 times to 1.6 times the absolute value of the percentage decline in the exchange rate. The exact participation rate will be set at pricing.

If the basket falls against the currency, investors will receive par times the basket performance.

The notes are expected to price in May and settle in June.

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