By Susanna Moon
Chicago, June 12 - AB Svensk Exportkredit priced $20 million of commodity-linked notes due July 19, 2009 linked to the Dow Jones-UBS Commodity Index Total Return 2 Month Forward, according to an FWP filing with the Securities and Exchange Commission.
Merrill Lynch Commodities Inc. is the agent.
The index is a fully collateralized version of the Dow Jones-UBS Commodity Index 2 Month Forward and measures the performance of an investment in the commodity markets over time.
Interest is Libor minus 27 basis points, reset quarterly.
The payout at maturity will be par plus triple the sum of the index return minus the Treasury bill amount minus a fee of 0.5% per year.
The notes are putable and the notes will be called if the index falls below the trigger level of 85% of the initial value. The payout will be determined as the payout at maturity.
| Issuer: | AB Svensk Exportkredit
|
| Issue: | Floating-rate notes
|
| Underlying index: | Dow Jones-UBS Commodity Index Total Return 2 Month Forward
|
| Amount: | $20 million
|
| Maturity: | July 19, 2009
|
| Coupon: | Libor minus 27 bps, reset quarterly
|
| Price: | Par
|
| Payout at maturity: | Par plus 300% of sum of index return minus T-bill amount minus fee of 0.5% per year
|
| Call: | If index declines by 15% or more; payout determined as at maturity
|
| Pricing date: | June 12
|
| Settlement date: | June 24
|
| Agent: | Merrill Lynch Commodities Inc.
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