New Issue: Merrill Lynch sells $11 million Capped Leveraged notes linked to S&P BRIC 40 for Svensk

By Susanna Moon

Chicago, Sept. 2 - AB Svensk Exportkredit priced $11 million of zero-coupon Capped Leveraged Index Return Notes due Feb. 26, 2010 linked to the S&P BRIC 40 index via Merrill Lynch, Pierce, Fenner & Smith Inc. and First Republic Securities Co., LLC, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par of $10 plus double any gain in the index, up to a maximum return of 23%.

Investors will receive par if the index falls by up to 10% and will lose 1% for each 1% decline beyond 10%.

The issuer applied to list the notes on the NYSE Arca under the symbol "BTG."

Issuer:	AB Svensk Exportkredit
Issue:	Capped Leveraged Index Return Notes
Underlying index:	S&P BRIC 40 index
Amount:	$11 million
Maturity:	Feb. 26, 2010
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus double any index gain, capped at 23%; par if index falls by up to 10% and 1% loss for each 1% decline beyond 10%
Initial index level:	2,514.29
Pricing date:	Aug. 28
Settlement date:	Sept. 9
Underwriters:	Merrill Lynch & Co., First Republic Securities Co., LLC
Fees:	2%

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