Published on 1/21/2011 in the Prospect News Structured Products Daily.
New Issue: Merrill prices $94.9 million Accelerated Return Notes on copper for Svensk
By Jennifer Chiou
New York, Jan. 21 - AB Svensk Exportkredit priced $94.9 million of 0% Accelerated Return Notes due March 14, 2012 linked to the spot price of copper via Merrill Lynch, Pierce, Fenner & Smith Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10.00 plus triple any gain in the price of copper, up to a maximum payment of $13.21 per note.
Investors will be exposed to any losses.
| Issuer: | AB Svensk Exportkredit
|
| Issue: | Accelerated Return Notes
|
| Underlying commodity: | Copper spot price
|
| Amount: | $94,897,760
|
| Maturity: | March 14, 2012
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 300% of any price gain in copper, capped at 32.1%; exposure to any losses
|
| Initial price: | $9,788
|
| Pricing date: | Jan. 19
|
| Settlement date: | Jan. 28
|
| Underwriter: | Merrill Lynch, Pierce, Fenner & Smith Inc.
|
| Fees: | 2%
|
| Cusip: | 01019M322
|
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