By Angela McDaniels
Tacoma, Wash., Sept. 28 - AB Svensk Exportkredit priced $10 million of floating-rate notes due Oct. 12, 2011 linked to the modified S&P Diversified Trends Indicator - Total Return through underwriter Goldman, Sachs & Co., according to an FWP filing with the Securities and Exchange Commission.
The index is a version of the S&P Diversified Trends Indicator - Total Return, which is an index of futures contracts on physical commodities and financial instruments, modified according to a methodology developed by Goldman Sachs.
Interest is payable quarterly. It accrues daily at a rate equal to Libor minus 27 basis points, with a floor of zero.
The payout at maturity will be par plus triple the sum of the index return minus the realized Treasury bill amount and minus a fee of 1.5% per year. The Treasury bill amount will be the sum of the 91-day weekly auction high rates for three-month U.S. Treasury bills for each day during the life of the notes.
The notes will be automatically called if the index closes at or below 85% 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 Diversified Trends Indicator - Total Return, as modified by Goldman Sachs
|
| Amount: | $10 million
|
| Maturity: | Oct. 12, 2011
|
| Coupon: | Libor minus 27 bps, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par plus triple the sum of the index return minus the realized Treasury bill amount and minus a fee of 1.5% per year
|
| Call: | Automatically if index closes at or below 85% of initial level
|
| Put option: | If requested by all holders
|
| Initial index level: | 1,448.844
|
| Pricing date: | Sept. 27
|
| Settlement date: | Oct. 5
|
| Underwriter: | Goldman, Sachs & Co.
|
| Fees: | 0.25%
|
| Cusip: | 00254EKL5
|
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