By Susanna Moon
Chicago, March 3 - AB Svensk Exportkredit sold an additional $500,000 of 0% Elements due Feb. 13, 2023 linked to the MLCX Grains Index - Total Return via Nuveen Investments and Merrill Lynch & Co., according to a 424B3 filing with the Securities and Exchange Commission.
This tranche priced at 55.359 and settled on Feb. 24. It brings the total deal size to $8.5 million. The first $4 million sold on Feb. 14, 2008, and the company previously said it would issue up to $250 million of the notes.
The index is designed to provide a benchmark for the grains sector and for investment in commodities as an asset class. The index comprises futures contracts on corn, soybeans, soy meal and wheat.
At maturity, investors will receive par plus the index return, less an annual investor fee of 0.75% times the proportion of days elapsed.
Holders may put back the notes for repurchase on weekly repurchase dates. There is a minimum put requirement of $5 million of securities.
The securities are listed on the NYSE Arca under the symbol "GRU."
| Issuer: | AB Svensk Exportkredit
|
| Issue: | Elements
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| Underlying index: | MLCX Grains Index - Total Return
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| Amount: | $8.5 million, upsized from $4 million
|
| Maturity: | Feb. 13, 2023
|
| Coupon: | 0%
|
| Price: | Par (for $4 million); 97.801 (for $4 million); 55.359 (for $500,000)
|
| Payout at maturity: | Par plus the index return, less an investor fee of 0.75% times the proportion of days elapsed
|
| Put option: | On weekly repurchase dates
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| Inception date: | Feb. 5, 2008
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| Settlement date: | Feb. 14, 2008 (for $4 million); April 17, 2008 (for $4 million); Feb. 24 (for $500,000)
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| Underwriters: | Nuveen Investments, Merrill Lynch & Co.
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| Listing: | NYSE Arca: GRU
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