Published on 11/2/2010 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $3.27 million enhanced growth notes linked to ETFs for Svensk
By Angela McDaniels
Tacoma, Wash., Nov. 2 - AB Svensk Exportkredit priced $3.27 million of 0% enhanced growth securities due May 5, 2014 with leveraged upside and buffered downside linked to a basket of exchange-traded funds via Wells Fargo Securities, LLC, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the iShares MSCI EAFE index fund with a 30% weight, the iShares Russell 2000 index fund with a 30% weight, the SPDR Trust, Series 1 with a 25% weight and the iShares MSCI Emerging Market index fund with a 15% weight.
The payout at maturity will be par plus 1.25 times any increase in the basket, subject to a maximum return of 44%. Investors will receive par if the basket declines by 15% or less and will lose 1.17647% for every 1% that it declines beyond 15%.
| Issuer: | AB Svensk Exportkredit
|
| Issue: | Enhanced growth securities with leveraged upside and buffered downside
|
| Underlying ETFs: | iShares MSCI EAFE index fund (30% weight), iShares Russell 2000 index fund (30% weight), SPDR Trust, Series 1 (25% weight) and iShares MSCI Emerging Market index fund (15% weight)
|
| Amount: | $3,265,000
|
| Maturity: | May 5, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.25 times any basket gain, up to maximum return of 44%; par if basket declines by 15% or less; 1.17647% loss for every 1% decline beyond 15%
|
| Initial share prices: | $57.01 for iShares MSCI EAFE; $70.31 for iShares Russell 2000; $118.53 for SPDR Trust; $46.13 for iShares MSCI EM
|
| Pricing date: | Oct. 29
|
| Settlement date: | Nov. 5
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| Underwriter: | Wells Fargo Securities, LLC
|
| Fees: | 2.5%
|
| Cusip: | 01019MAG3
|
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