Published on 10/26/2010 in the Prospect News Structured Products Daily.
New Issue: Nuveen, Merrill Lynch price $36 million more Elements on Rogers Commodity for Svensk
By Jennifer Chiou
New York, Oct. 26 - AB Svensk Exportkredit priced an additional $36 million of 0% Elements due Oct. 24, 2022 linked to the Rogers International Commodity Index - Total Return in 11 add-ons via Nuveen Investments, LLC and Merrill Lynch, Pierce, Fenner & Smith Inc., according to a 424B3 filing with the Securities and Exchange Commission.
The notes priced and settled between Sept. 7 and Oct. 27. They included $2 million at 73.396, $1 million at 77.919, $2 million at 78.724, $4 million at 78.502, $3 million at 79.208, $2 million at 80.864, $8 million at 82.399, $4 million at 82.766, $5 million at 83.396, $2 million at 80.990 and $3 million at 81.733.
In total, the company has priced $698.5 million principal amount of the notes in 34 tranches at prices ranging from 53.494 to 137.809. The original $4 million of the notes priced at par of $10 on Oct. 17, 2007.
The payout at maturity will be par plus the index return less an annual investor fee of 0.75%.
The notes are putable on weekly repurchase dates, subject to a minimum of $5 million of notes.
The notes are listed on NYSE Arca under the symbol "RJI."
Issuer: | AB Svensk Exportkredit
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Issue: | Elements
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Underlying index: | Rogers International Commodity Index - Total Return
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Amount: | $698.5 million, increased from $4 million
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Maturity: | Oct. 24, 2022
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Coupon: | 0%
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Price: | Par of $10 for original $4 million; latest add-ons: $2 million at 73.396, $1 million at 77.919, $2 million at 78.724, $4 million at 78.502, $3 million at 79.208, $2 million at 80.864, $8 million at 82.399, $4 million at 82.766, $5 million at 83.396, $2 million at 80.990 and $3 million at 81.733
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Payout at maturity: | Par plus the index return less an annual investor fee of 0.75%
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Put option: | On weekly repurchase dates subject to minimum of $5 million
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Initial index level: | 4,126.81
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Inception date: | Oct. 17, 2007 for original $4 million
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Settlement dates: | Oct. 24, 2007 for original $4 million; latest add-ons: Sept. 7 for $2 million, Sept. 24 for $1 million, Oct. 1 for $2 million, Oct. 4 for $4 million, Oct. 8 for $3 million, Oct. 13 for $2 million, Oct. 15 for $8 million, Oct. 18 for $4 million, Oct. 19 for $5 million, Oct. 25 for $2 million and Oct. 27 for $3 million
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Underwriters: | Nuveen Investments, LLC and Merrill Lynch, Pierce, Fenner & Smith Inc.
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Listing: | NYSE Arca: RJI
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Cusip: | 870297801
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