By E. Janene Geiss
Philadelphia, Sept. 10 - AB Svensk Exportkredit sold an additional $32 million of 0% Elements due Oct. 24, 2022 linked to the Rogers International Commodity Index - Total Return in four tranches via underwriters Nuveen Investments and Merrill Lynch & Co., according to a 424B3 filing with the Securities and Exchange Commission.
The issuer sold $4 million of the notes at 71.893 on Aug. 17, $18 million of the notes at 70.686 on Aug. 20, $5 million of the notes at 71.329 on Aug. 25 and $5 million of the notes at 70.897 on Aug. 31.
In total, the company has sold $402.5 million of the notes in 44 tranches at prices ranging from 55.934 to 137.809. The original $4 million of the notes priced at par on Oct. 17, 2007.
The index is a composite, dollar-based, total return index representing the value of a basket of commodities consumed in the global economy.
The payout at maturity will be par plus the index return, less an annual investor fee equal to 0.75% multiplied by the proportion of days elapsed.
The notes are putable on weekly repurchase dates, subject to a minimum of $5 million of notes.
The notes are listed on the NYSE Arca under the symbol "RJI."
| Issuer: | AB Svensk Exportkredit
|
| Issue: | Elements
|
| Underlying index: | Rogers International Commodity Index - Total Return
|
| Amount: | $402.5 million, upsized from $4 million
|
| Maturity: | Oct. 24, 2022
|
| Coupon: | 0%
|
| Price: | Par (for original $4 million); for latest tranches: 53.494 (for $4 million); 71.893 (for $4 million; 70.686 (for $18 million); 71.329 (for $5 million) and 70.897 for ($5 million)
|
| Payout at maturity: | Par plus the index return less an investor fee of 0.75% times the proportion of days elapsed
|
| Put option: | On weekly repurchase dates
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| Pricing date: | Oct. 17, 2007 (for original $4 million)
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| Settlement dates: | Oct. 24, 2007 (for original $4 million); Aug. 17 (for $4 million); Aug. 20 (for $4 million; Aug. 25 (for $18 million) and Aug. 31 for ($5 million)
|
| Underwriters: | Nuveen Investments, Merrill Lynch & Co.
|
| Listing: | NYSE Arca: RJI
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