New Issue: Merrill Lynch prices $34.41 million Accelerated Return Notes tied to Energy Select for Svensk

By Angela McDaniels

Tacoma, Wash., Nov. 30 - AB Svensk Exportkredit priced $34.41 million of 0% Accelerated Return Notes due Jan. 28, 2011 linked to the Energy Select Sector 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.

The payout at maturity will be par of $10 plus triple any index gain, subject to a maximum return of 26.3%. Investors will be exposed to any index decline.

The issuer said it might apply to list the notes on NYSE Arca under the symbol "ANI."

Issuer:	AB Svensk Exportkredit
Issue:	Accelerated Return Notes
Underlying index:	Energy Select Sector
Amount:	$34.41 million
Maturity:	Jan. 28, 2011
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus triple any index gain, up to maximum return of 26.3%; exposure to any index decline
Initial index level:	575.42
Final index level:	Average of index's closing levels on the five trading days ending Jan. 25, 2011
Pricing date:	Nov. 24
Settlement date:	Dec. 2
Underwriters:	Merrill Lynch, Pierce, Fenner & Smith Inc. and First Republic Securities Co., LLC
Fees:	2%

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