New Issue: Goldman upsizes leveraged bear notes on New Zealand dollar to $107.66 million for Svensk

By Susanna Moon

Chicago, June 13 - AB Svensk Exportkredit increased the 0% leveraged bear notes due Dec. 17, 2009 linked to the performance of the New Zealand dollar relative to a basket of currencies to $107.66 million, according to a 424B2 filing with the Securities and Exchange Commission.

The additional notes priced at 102.95.

Goldman, Sachs & Co., the underwriter, originally priced $102.76 million of the notes.

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

The payout at maturity will be par plus 167.5% of any appreciation of the basket relative to the New Zealand dollar. Investors will be fully exposed to any basket depreciation.

Issuer:	AB Svensk Exportkredit
Issue:	Leveraged bear notes
Underlying currencies:	Equal weights of the Brazilian real, Norwegian krone and U.S. dollar, each relative to the New Zealand dollar
Amount:	$107,663,000, upsized from $102,757,000
Maturity:	Dec. 17, 2009
Coupon:	0%
Price:	Par for original issue; 102.95 for add-on
Payout at maturity:	Par plus 167.5% of any basket appreciation; full exposure to any basket depreciation
Initial exchange rates:	1.387 reais per New Zealand dollar, 3.8015 kroner per New Zealand dollar, 0.7272 of a U.S. dollar per New Zealand dollar
Pricing date:	May 27 for original issue; June 11 for add-on
Settlement date:	June 17
Underwriter:	Goldman, Sachs & Co.
Fees:	0.25%

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