By Angela McDaniels
Tacoma, Wash., Feb. 11 - AB Svensk Exportkredit priced $5 million of floating-rate notes due March 23, 2010 linked to the S&P GSCI Official Close Index Total Return via Merrill Lynch & Co., according to an FWP filing with the Securities and Exchange Commission.
The S&P GSCI Official Close index is comprised of futures contracts on 24 physical commodities, the weights of which are designed to reflect the relative significance of each commodity in the world economy. The S&P GSCI Official Close Index Total Return combines the returns of this index with the returns on cash collateral invested in U.S. Treasury bills.
Interest accrues at a rate equal to Libor minus 27 basis points and is payable at maturity.
The payout at maturity will be par plus 300% of the sum of (a) the index return minus (b) a fee of 0.4% per year minus (c) the TBill yield.
The TBill yield will be the sum of the 91-day weekly auction high rate for U.S. Treasury bills for each day during the life of the notes.
The notes are putable at any time if requested by all holders, and the notes will be called if the index declines by 15% or more. In both cases, the payout will be determined in the same way as the payout at maturity.
| Issuer: | AB Svensk Exportkredit
|
| Issue: | Notes
|
| Underlying index: | S&P GSCI Official Close Index Total Return
|
| Amount: | $5 million
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| Maturity: | March 23, 2010
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| Coupon: | Libor minus 27 bps, payable at maturity
|
| Price: | Par
|
| Payout at maturity: | Par plus 300% of the sum of (a) the index return minus (b) a fee of 0.4% per year minus (c) the TBill yield
|
| Put option: | At any time if requested by all holders; payout determined in same way as at maturity
|
| Call: | Automatically if index declines by 15% or more; payout determined in same way as at maturity
|
| Pricing date: | Feb. 11
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| Settlement date: | Feb. 19
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| Underwriter: | Merrill Lynch & Co.
|
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