New Issue: Merrill prices $56.3 million of Accelerated Return Notes on S&P 500 for Svensk

By Toni Weeks

San Diego, Feb. 28 - AB Svensk Exportkredit priced $56.3 million of 0% Accelerated Return Notes due April 27, 2012 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Merrill Lynch, Pierce, Fenner & Smith Inc. is the agent.

The payout at maturity is par of $10.00 plus triple any gain in the index, up to a maximum payment of $11.404 per note. Investors will be fully exposed to any index decline.

Issuer:	AB Svensk Exportkredit
Issue:	Accelerated Return Notes
Underlying index:	S&P 500
Amount:	$56,301,560
Maturity:	April 27, 2012
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus three times the gain in the index, up to a cap of 14.04%; 1% loss for every 1% decline in the index
Initial index level:	1,306.10
Pricing date:	Feb. 24
Settlement date:	March 4
Underwriter:	Merrill Lynch, Pierce, Fenner & Smith Inc.
Fees:	2%
Cusip:	01019M231

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