By E. Janene Geiss
Philadelphia, Sept. 10 - AB Svensk Exportkredit sold an additional $6.5 million of 0% Elements due Feb. 13, 2023 linked to the MLCX Grains Index - Total Return in five tranches via Nuveen Investments and Merrill Lynch & Co., according to a 424B3 filing with the Securities and Exchange Commission.
The total amount of notes offered is now $21 million. The issuer sold $1 million of the notes at 51.454 on Aug. 25, $1 million of the notes at 51.454 on Aug. 25, $1 million of the notes at 51.390 on Aug. 26, $1 million of the notes at 50.564 on Sept. 8 and $2.5 million of the notes at 50.381 on Sept. 9.
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
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Issue: | Elements
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Underlying index: | MLCX Grains Index - Total Return
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Amount: | $21 million, upsized from $4 million
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Maturity: | Feb. 13, 2023
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Coupon: | 0%
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Price: | Par (for $4 million); for latest tranches: 51.454 (for $1 million); 51.454 (for $1 million); 51.390 (for $1 million) 50.564 (for $1 million) 50.381 (for $2.5 million)
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Payout at maturity: | Par plus the index return, less an investor fee of 0.75% times the proportion of days elapsed
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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); for latest tranches: Aug. 25 (for $1 million) Aug. 25 (for $1 million) Aug. 26 (for $1 million) Sept. 8 (for $1 million) and Sept. 9 (for $2.5 million)
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Underwriters: | Nuveen Investments, Merrill Lynch & Co.
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Listing: | NYSE Arca: GRU
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