New Issue: Merrill, B of A sell $19.9 million Accelerated Return Notes tied to S&P 500 for Svensk

By Jennifer Chiou

New York, June 26 - AB Svensk Exportkredit priced $19.9 million of 0% Accelerated Return Notes due Aug. 27, 2010 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus triple any index gain, up to a return cap of 24.15%.

Investors will be exposed to any losses.

Application may be made to list the notes on the NYSE Arca under the symbol "SAJ."

Merrill Lynch, Pierce, Fenner & Smith Inc. and its affiliate First Republic Securities Co., LLC as well as Banc of America Investment Services, Inc. are the underwriters.

Issuer:	AB Svensk Exportkredit
Issue:	Accelerated Return Notes
Underlying index:	S&P 500
Amount:	$19.9 million
Maturity:	Aug. 27, 2010
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus triple any index gain, capped at 24.15%; exposure to losses
Initial index level:	900.94
Pricing date:	June 24
Settlement date:	July 2
Underwriters:	Merrill Lynch, Pierce, Fenner & Smith Inc., First Republic Securities Co., LLC, Banc of America Investment Services, Inc.
Fees:	2%

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