By Marisa Wong
Milwaukee, April 12 - AB Svensk Exportkredit priced $25 million of floating-rate notes due May 17, 2011 linked to the Dow Jones - UBS Commodity Index Total Return via Morgan Stanley & Co. Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest equals Libor minus 27 basis points. It is reset quarterly and payable at maturity.
The payout at maturity will be par plus triple the sum of the index return minus the T-Bill yield minus a fee of 0.2% 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 85% of its initial level or less. In either case, the redemption price will be calculated in the same way as the payout at maturity.
| Issuer: | AB Svensk Exportkredit
|
| Issue: | Floating-rate notes
|
| Underlying index: | Dow Jones - UBS Commodity Index Total Return
|
| Amount: | $25 million
|
| Maturity: | May 17, 2011
|
| Coupon: | Libor minus 27 bps, 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 0.2% 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
|
| Initial index level: | 268.8436
|
| Pricing date: | April 8
|
| Settlement date: | April 15
|
| Underwriter: | Morgan Stanley & Co. Inc.
|
| Fees: | None
|
| Cusip: | 00254EKC5
|
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