By Angela McDaniels
Tacoma, Wash., May 24 - AB Svensk Exportkredit priced $23 million of floating-rate notes due June 9, 2011 linked to the S&P GSCI Excess Return index via underwriter Goldman, Sachs & Co., according to an FWP filing with the Securities and Exchange Commission.
The interest rate is Libor minus 27 basis points. It is payable quarterly and cannot be less than zero.
The payout at maturity will be par plus triple the sum of the index return minus a fee of 0.2% per year.
The notes will be automatically called if the index closes at or below 88% of its initial level, and the notes are putable if requested by all holders. In both instances, the redemption amount will be determined in the same manner as the payout at maturity.
| Issuer: | AB Svensk Exportkredit
|
| Issue: | Floating-rate notes
|
| Underlying index: | S&P GSCI - Excess Return
|
| Amount: | $23 million
|
| Maturity: | June 9, 2011
|
| Coupon: | Libor minus 27 bps, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par plus triple the sum of the index return minus a fee of 0.2% per year
|
| Call: | Automatically if index closes at or below 88% of initial level
|
| Put option: | If requested by all holders
|
| Initial index level: | 378.1597
|
| Pricing date: | May 21
|
| Settlement date: | May 28
|
| Underwriter: | Goldman, Sachs & Co.
|
| Fees: | 0.25%
|
© 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.
