New Issue: Nuveen, Merrill Lynch sell $41 million more Elements on Rogers Commodity for Svensk

By Marisa Wong

Madison, Wis., Jan. 20 - AB Svensk Exportkredit priced an additional $41 million of 0% Elements due Oct. 24, 2022 linked to the Rogers International Commodity Index-Total Return in 12 add-ons via Nuveen Investments, LLC and Merrill Lynch, Pierce, Fenner & Smith Inc., according to a 424B3 filing with the Securities and Exchange Commission.

The notes priced and settled between Dec. 10 and Jan. 18. They included $5 million at 87.997, $2 million at 88.964, $2 million at 88.623, $3 million at 86.623, $3 million at 89.992, $5 million at 89.992, $4 million at 91.026, $2 million at 91.514, $3 million at 91.06, $2 million at 91.06, $8 million at 91.828 and $2 million at 91.982.

In total, the company has priced $835.5 million principal amount of the notes in 64 tranches at prices ranging from 53.494 to 137.809. The original $4 million of the notes priced at par of $10 on Oct. 17, 2007.

The payout at maturity will be par plus the index return less an annual investor fee of 0.75%.

The notes are putable on weekly repurchase dates, subject to a minimum of $5 million of notes.

The notes are listed on NYSE Arca under the symbol "RJI."

Issuer:	AB Svensk Exportkredit
Issue:	Elements
Underlying index:	Rogers International Commodity Index-Total Return
Amount:	$835.5 million, increased from $4 million
Maturity:	Oct. 24, 2022
Coupon:	0%
Price:	Par of $10 for original $4 million; latest add-ons: $5 million at 87.997, $2 million at 88.964, $2 million at 88.623, $3 million at 86.623, $3 million at 89.992, $5 million at 89.992, $4 million at 91.026, $2 million at 91.514, $3 million at 91.06, $2 million at 91.06, $8 million at 91.828 and $2 million at 91.982
Payout at maturity:	Par plus the index return less an annual investor fee of 0.75%
Put option:	On weekly repurchase dates subject to minimum of $5 million
Initial index level:	4,126.81
Inception date:	Oct. 17, 2007 for original $4 million
Settlement dates:	Oct. 24, 2007 for original $4 million; latest add-ons: Dec. 15 for $5 million, Dec. 17 for $2 million, Dec. 20 for $2 million, Dec. 20 for $3 million, Dec. 28 for $3 million, Dec. 29 for $5 million, Dec. 30 for $4 million, Jan. 4 for $2 million, Jan. 10 for $3 million, Jan. 11 for $2 million, Jan. 11 for $8 million and Jan. 18 for $2 million
Underwriters:	Nuveen Investments, LLC and Merrill Lynch, Pierce, Fenner & Smith Inc.
Listing:	NYSE Arca: RJI
Cusip:	870297801

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