New Issue: Merrill Lynch prices $36.9 million Accelerated Return Notes linked to gold for Svensk

By Angela McDaniels

Tacoma, Wash., April 1 - AB Svensk Exportkredit priced $36.9 million of 0% Accelerated Return Notes due June 2, 2010 linked to the gold spot price via Merrill Lynch & Co. 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 increase in the gold spot price, subject to a maximum return of 44.13%. Investors will be fully exposed to any decline in the gold spot price.

Issuer:	AB Svensk Exportkredit
Issue:	Accelerated Return Notes
Underlying commodity:	Gold
Amount:	$36.9 million
Maturity:	June 2, 2010
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus triple any increase in the gold spot price, up to maximum return of 44.13%; full exposure to any decline
Initial gold spot price:	$916.50
Pricing date:	March 31
Settlement date:	April 6
Underwriters:	Merrill Lynch & Co. and First Republic Securities Co., LLC
Fees:	2%

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