By Jennifer Chiou
New York, Oct. 15 - AB Svensk Exportkredit priced $42.27 million of 8% STEP Income Securities due Oct. 21, 2011 linked to the common stock of the Boeing Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
If the final share price of Boeing stock is greater than or equal to the step level, the payout at maturity will be par of $10 plus 3.3%. The step level is 108% of the initial share price.
If the final share price is greater than or equal to the threshold value - 95% of the initial level - but less than the step level, the payout will be par.
Investors will be exposed to any declines, with a floor of 5% of par.
Merrill Lynch, Pierce, Fenner & Smith Inc. is the underwriter.
| Issuer: | AB Svensk Exportkredit
|
| Issue: | STEP Income Securities
|
| Underlying stock: | Boeing Co. (NYSE: BA)
|
| Amount: | $42,265,310
|
| Maturity: | Oct. 21, 2011
|
| Coupon: | 8%, payable quarterly
|
| Price: | Par of $10
|
| Payout at maturity: | If final share price is greater than or equal to step level, par plus 3.3%; par if final share price is greater than or equal to 95% of initial level but less than step level; investors share in losses with floor of 5% of par
|
| Initial share price: | $71.63
|
| Step level: | $77.36, 108% of initial price
|
| Threshold value: | $68.05, 95% of initial price
|
| Pricing date: | Oct. 13
|
| Settlement date: | Oct. 18
|
| Underwriter: | Merrill Lynch, Pierce, Fenner & Smith Inc.
|
| Fees: | 1.75%
|
| Cusip: | 01019M421
|
© 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.
