New Issue: Merrill prices $39.2 million Accelerated Return Notes linked to index basket for Svensk

By Susanna Moon

Chicago, June 6 - AB Svensk Exportkredit priced $39.2 million of 0% Accelerated Return Notes due Aug. 21, 2009 linked to a basket of three indexes via Merrill Lynch & Co. and First Republic Securities Co., LLC, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of the S&P 500 index, the Dow Jones Euro Stoxx 50 index and the Nikkei 225 index, each weighted at about a third.

Payout will be par plus triple any gain in the index, up to a maximum return of 17.625%.

Otherwise, the payout will be par times the index performance.

Issuer:	AB Svensk Exportkredit
Issue:	Accelerated Return Notes
Underlying indexes:	S&P 500 index, Dow Jones Euro Stoxx 50 index and Nikkei 225 index, each weighted at about a third
Amount:	$39.2 million
Maturity:	Aug. 21, 2009
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus triple any index gain, capped at 17.625%; exposure to losses
Initial index levels:	1,377.2 for S&P; 3,699.05 for Euro Stoxx; and 14,435.57 for Nikkei
Pricing date:	June 4
Settlement date:	June 11
Underwriters:	Merrill Lynch & Co. and First Republic Securities Co., LLC
Fees:	2%

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