By Angela McDaniels
Tacoma, Wash., Oct. 4 - AB Svensk Exportkredit changed the maturity date, interest rate and underlying index of $12.9 million of floating-rate notes priced via Bank of America Merrill Lynch and lowered the fee amount, according to an amended FWP filing with the Securities and Exchange Commission.
The notes will mature Nov. 21, 2012 and are linked to the Dow Jones - UBS Commodity Index Total Return 2 Month Forward.
The interest rate is Libor minus 60 basis points. It is reset quarterly and payable at maturity.
The payout at maturity, in addition to interest, will be par plus triple the sum of the index return minus the T-Bill yield minus a fee of 0.28% per year. The T-Bill yield will be the sum of the 91-day weekly auction high rates for U.S. Treasury bills for each day during the life of the notes.
Before the changes, the notes were set to mature Nov. 9, 2012. They were linked to the Dow Jones - UBS Commodity Index Total Return 4 Month Forward, the coupon was equal to Libor, and the fee was 0.47% per year.
Like before, the notes are putable at any time if requested by all holders, and the notes will be called if the index closes at 15% or more below its initial level. In each case, the payout will be calculated in the same way as that at maturity.
| Issuer: | AB Svensk Exportkredit
|
| Issue: | Floating-rate notes
|
| Underlying index: | Dow Jones - UBS Commodity Index Total Return 2 Month Forward
|
| Amount: | $12.9 million
|
| Maturity: | Nov. 21, 2012
|
| Coupon: | Libor minus 60 bps, reset quarterly and payable at maturity
|
| Price: | Par
|
| Payout at maturity: | Par plus 300% of the sum of the index return minus the T-Bill yield minus a fee of 0.28% per year
|
| Put option: | At any time if requested by all holders
|
| Call: | Automatically if index closes at 85% of its initial level or below
|
| Initial index level: | 602.1275
|
| Pricing date: | Oct. 3
|
| Settlement date: | Oct. 11
|
| Underwriter: | Bank of America Merrill Lynch
|
| Fees: | None
|
| Cusip: | 00254ELE0
|
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