New Issue: Wells sells $16.03 million 10.5% enhanced yield notes on Bank of America for Svensk

By Susanna Moon

Chicago, April 30 - AB Svensk Eksportkredit priced $16.03 million of 10.5% annualized enhanced yield securities due Nov. 10, 2010 based on the common stock of Bank of America Corp. via Wells Fargo Securities, LLC, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless Bank of America stock falls by 25% or more during the life of the notes and finishes below the initial share price, in which case investors will receive a number of Bank of America shares equal to $1,000 divided by the initial share price.

Issuer:	AB Svensk Eksportkredit
Issue:	Enhanced yield securities
Underlying stock:	Bank of America Corp. (NYSE: BAC)
Amount:	$16,028,000
Maturity:	Nov. 10, 2010
Coupon:	10.5%, payable monthly
Price:	Par
Payout at maturity:	If Bank of America stock falls to or below the knock-in price of $13.725 during the life of the notes and finishes below the initial price, 54.6448 Bank of America shares; otherwise, par
Initial share price:	$18.30
Knock-in price:	$13.725, or 75% of initial price
Pricing date:	April 29
Settlement date:	May 6
Underwriter:	Wells Fargo Securities, LLC
Fees:	1.25%
Cusip:	870297BR8

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