Published on 8/28/2009 in the Prospect News Structured Products Daily.
New Issue: Merrill Lynch prices $16.73 million capped leveraged notes tied to S&P 500 for Svensk
By E. Janene Geiss
Philadelphia, Aug. 28 - AB Svensk Exportkredit priced $16.73 million of 0% Capped Leveraged Index Return Notes due Aug. 26, 2011 linked to the S&P 500 index via Merrill Lynch, Pierce, Fenner & Smith Inc., First Republic Securities Co., LLC and Banc of America Investment Services, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus double any index gain, subject to a maximum return of 25.42%. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that the index declines beyond 10%.
The final index level will be the arithmetic average of the index's closing levels on the five consecutive trading days ending Aug. 23, 2011.
The issuer said it may apply to list the notes on NYSE Arca under the symbol "SOG."
Issuer: | AB Svensk Exportkredit
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Issue: | Capped Leveraged Index Return Notes
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Underlying index: | S&P 500 index
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Amount: | $16,725,000
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Maturity: | Aug. 26, 2011
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus double any index gain, up to maximum return of 25.42%; par if index declines by 10% or less; 1% loss for every 1% decline beyond 10%
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Initial index level: | 1,028.12
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Final index level: | Average of closing levels on the five consecutive trading days ending Aug. 23, 2011
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Pricing date: | Aug. 26
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Settlement date: | Sept. 4
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Agents: | Merrill Lynch, Pierce, Fenner & Smith Inc., First Republic Securities Co., LLC and Banc of America Investment Services, Inc.
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Fees: | 2%
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