New Issue: Merrill Lynch prices $23.4 million Accelerated Return Notes on Russell 2000 for Svensk

By Jennifer Chiou

New York, July 30 - AB Svensk Exportkredit priced $23.4 million of 0% Accelerated Return Notes due Sept. 30, 2011 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

Merrill Lynch, Pierce, Fenner & Smith Inc. and First Republic Securities Co., LLC are the underwriters.

The payout at maturity will be par of $10.00 plus triple any gain in the index, up to a maximum payment of $12.565 per note.

Investors will be exposed to any losses.

Issuer:	AB Svensk Exportkredit
Issue:	Accelerated Return Notes
Underlying index:	Russell 2000
Amount:	$23,396.570
Maturity:	Sept. 30, 2011
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 300% of any index gain, capped at 25.65%; exposure to any losses
Initial level:	650.76
Pricing date:	July 28
Settlement date:	Aug. 5
Underwriters:	Merrill Lynch, Pierce, Fenner & Smith Inc. and First Republic Securities Co., LLC
Fees:	2%
Cusip:	01019M587

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