By Susanna Moon
Chicago, Oct. 20 - AB Svensk Exportkredit priced $11.7 million of commodity index-linked notes due Nov. 23, 2010 linked to the Dow Jones - UBS Commodity Index Total Return, according to a 424B3 filing with the Securities and Exchange Commission.
Merrill Lynch, Pierce, Fenner & Smith Inc. is the agent.
Interest will equal Libor minus 27 basis points and will be payable quarterly.
The notes are putable, and will be called if the index falls to or below the trigger level - 85% of the initial level - during the life of the notes.
The payout at maturity will be par plus triple the index return minus a fee of 0.4% per year minus the Treasury bill amount, with a floor of zero.
The T-bill amount will be the sum of the 91-day weekly auction high rates for U.S. Treasury bills.
| Issuer: | AB Svensk Exportkredit
|
| Issue: | Commodity index-linked notes
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| Underlying index: | Dow Jones - UBS Commodity Index - Excess Return
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| Amount: | $11.7 million
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| Maturity: | Nov. 23, 2010
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| Coupon: | Libor minus 27 bps, payable quarterly
|
| Price: | Par
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| Payout at maturity: | Par plus triple the index return minus a fee of 0.4% per year minus the T-bill amount, floor of zero
|
| Call: | If the index falls to or below the trigger level
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| Pricing date: | Oct. 20
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| Settlement date: | Oct. 27
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| Agent: | Merrill Lynch, Pierce, Fenner & Smith Inc.
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