Lehman Brothers to price 0% notes linked to five Asian currencies for Svensk

By Angela McDaniels

Tacoma, Wash., June 30 - AB Svensk Exportkredit plans to price 0% two-year notes linked to a basket of currencies via Lehman Brothers Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The basket includes equal weights of the Chinese renminbi, Indonesian rupiah, Malaysian ringgit, Philippine Peso and Singapore dollar.

If the basket appreciates relative to the U.S. dollar, the payout at maturity will be par plus the gain multiplied by a participation rate that is expected to be 180% to 190%. The exact rate will be set at pricing.

If the basket depreciates relative to the U.S. dollar or remains flat, the payout will be par.

The notes will price and settle in July.

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