New Issue: Merrill Lynch prices $62.28 million 0% notes linked to Rogers agriculture index for Svensk

By Susanna Moon

Chicago, June 10 - AB Svensk Exportkredit priced $62.28 million of 0% Accelerated Return Notes due Aug. 21, 2009 linked to the Rogers International Commodity Index - Agriculture Excess Return via Merrill Lynch, Pierce, Fenner & Inc. and First Republic Securities Co., LLC, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus triple any index gain, up to a maximum return of 20.25%. Investors will be exposed to any index decline.

Issuer:	AB Svensk Exportkredit
Issue:	Accelerated Return Notes
Underlying index:	Rogers International Commodity Index - Agriculture Excess Return
Amount:	$62,275,000
Maturity:	Aug. 21, 2009
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus triple any index gain, capped at 20.25% return; exposure to losses
Initial index level:	1,203.16
Pricing date:	June 4
Settlement date:	June 11
Underwriters:	Merrill Lynch, Pierce, Fenner & Inc. and First Republic Securities Co., LLC
Fees:	2%

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