By Susanna Moon
Chicago, March 2 - AB Svensk Exportkredit priced $27.2 million of 0% Accelerated Return Bear Market Notes due March 8, 2010 linked to the S&P 500 index, according to a 424B3 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus five times the absolute value of any index decline, up to a return cap of 16.71%.
Investors will receive par if the index gains by up to 10% and will lose 1% for each 1% gain above 10%.
The issuer said it applied to list the notes on the NYSE Arca under the symbol "ABY."
Merrill Lynch & Co. and its affiliate First Republic Securities Co., LLC are the underwriters.
| Issuer: | AB Svensk Exportkredit
|
| Issue: | Accelerated Return Bear Market Notes
|
| Underlying index: | S&P 500
|
| Amount: | $27.2 million
|
| Maturity: | March 8, 2010
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus five times the absolute value of any index decline, capped at 16.71%; par if index gains by up to 10% and 1% loss for every 1% gain above 10%
|
| Initial index level: | 752.83
|
| Pricing date: | Feb. 26
|
| Settlement date: | March 5
|
| Underwriters: | Merrill Lynch & Co. and First Republic Securities Co., LLC
|
| Fees: | 1.75%
|
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