By Jennifer Chiou
New York, Jan. 8 - AB Svensk Exportkredit priced $3 million of floating-rate notes due Feb. 14, 2011 linked to the Dow Jones - UBS Commodity Index Total Return via Merrill Lynch, Pierce, Fenner & Smith Inc., according to an FWP filing with the Securities and Exchange Commission.
Interest equals Libor minus 27 basis points, subject to a floor of zero. It is reset quarterly and payable at maturity.
The payout at maturity, in addition to interest, will be par plus triple the sum of the index return minus the T-Bill yield minus a fee of 0.3% per year. The T-Bill yield will be the sum of the 91-day weekly auction high rates for U.S. Treasury bills for each day during the life of the notes.
The notes are putable at any time if requested by all holders, and the notes will be called if the index closes at 15% or more below its initial level. In each case, the payout will be calculated in the same way as that at maturity.
| Issuer: | AB Svensk Exportkredit
|
| Issue: | Floating-rate notes
|
| Underlying index: | Dow Jones - UBS Commodity Index Total Return
|
| Amount: | $3 million
|
| Maturity: | Feb. 14, 2011
|
| Coupon: | Libor minus 27 bps, reset quarterly and payable at maturity
|
| Price: | Par
|
| Payout at maturity: | Par plus 300% of the sum of the index return minus the T-Bill yield minus a fee of 0.3% per year
|
| Put option: | At any time if requested by all holders; payout calculated in same way as at maturity
|
| Call: | Automatically if index closes at 85% of its initial level or below; payout calculated in same way as at maturity
|
| Pricing date: | Jan. 7
|
| Settlement date: | Jan. 14
|
| Underwriter: | Merrill Lynch, Pierce, Fenner & Smith Inc.
|
| Fees: | None
|
| Cusip: | 00254EJS2
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
