By Susanna Moon
Chicago, Feb. 20 - AB Svensk Exportkredit priced $32.3 million of commodity index-linked notes due Jan. 28, 2010 linked to the Dow Jones - AIG Commodity Index Total Return via Merrill Lynch Commodities, Inc., according to an FWP filing with the Securities and Exchange Commission.
Interest is Libor minus 27 basis points. It will be reset quarterly and payable at maturity.
Payout at maturity will be par plus triple the sum of the index return minus the Treasury bill yield minus a fee of 0.4% per year.
The notes are putable until Jan. 21, 2010, and the notes will be called if the index closes at 85% of its initial level or less until Jan. 21, 2010. In each case, the payout will be calculated in the same way as at maturity.
Issuer: | AB Svensk Exportkredit
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Issue: | Commodity index-linked notes
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Underlying index: | Dow Jones - AIG Commodity Index Total Return
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Amount: | $32.3 million
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Maturity: | Jan. 28, 2010
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Coupon: | Libor minus 27 bps, reset quarterly and payable at maturity
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Price: | Par
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Payout at maturity: | Par plus triple the sum of index return minus T-bill yield minus a fee of 0.4% per year
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Put option: | Until Jan. 21, 2010; payout determined in same way as at maturity
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Call: | Automatically if index closes at or below 85% of its initial level until Jan. 21, 2010; payout determined in same way as at maturity
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Initial index level: | 205.492
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Pricing date: | Feb. 18
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Settlement date: | Feb. 25
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Agent: | Merrill Lynch Commodities, Inc.
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