New Issue: Nuveen, Merrill Lynch price $166.5 million more Elements on Rogers Agriculture for Svensk

By Angela McDaniels

Tacoma, Wash., March 2 - AB Svensk Exportkredit priced an additional $166.5 million of 0% Elements due Oct. 24, 2022 linked to the Rogers International Commodity Index - Agriculture Total Return via Nuveen Investments, LLC and Merrill Lynch, Pierce, Fenner & Smith Inc., according to a 424B3 filing with the Securities and Exchange Commission.

The notes settled in 31 tranches between Jan. 19 and Feb. 25. The issuer priced $5 million at 107.204, $13 million at 107.328, $3 million at 106.710, $5 million at 108.090, $3 million at 109.772, $6 million at 111.002, $6 million at 110.106, $14 million at 111.394, $2 million at 113.056, $8 million at 114.061, $6 million at 115.102, $17 million at 114.307, $3 million at 114.940, $6 million at 114.755, $5 million at 114.940, $2.5 million at 117.090, $3.5 million at 116.742, $2.5 million at 116.238, $16 million at 114.905, $5 million at 116.568 and $35 million at 115.455

In total, the issuer has priced $878 million principal amount of the notes at prices ranging from 61.948 to 131.313. 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 "RJA."

Issuer:	AB Svensk Exportkredit
Issue:	Elements
Underlying index:	Rogers International Commodity Index - Agriculture Total Return
Amount:	$878 million, increased from $4 million
Maturity:	Oct. 24, 2022
Coupon:	0%
Price:	Par of $10 for original $4 million; 106.71 to 117.09 for latest add-ons
Payout at maturity:	Par plus index return minus annual investor fee of 0.75%
Put option:	On weekly repurchase dates subject to minimum of $5 million
Initial index level:	1,236.05
Inception date:	Oct. 17, 2007 for original $4 million
Settlement dates:	Oct. 24, 2007 for original $4 million; latest add-ons: Jan. 19 for $5 million, Jan. 20 for $13 million, Jan. 21 for $3 million, Jan. 25 for $5 million, Jan. 27 for $9 million, Jan. 31 for $6 million, Feb. 3 for $14 million, Feb. 4 for $2 million, Feb. 7 for $8 million, Feb. 8 for $6 million, Feb. 9 for $16 million, Feb. 10 for $3 million, Feb. 11 for $6 million, Feb. 14 for $5 million, Feb. 16 for $2.5 million, Feb. 17 for $3.5 million, Feb. 18 for $2.5 million, Feb. 22 for $16 million, Feb. 24 for $5 million and Feb. 25 for $35 million
Underwriters:	Nuveen Investments, LLC and Merrill Lynch, Pierce, Fenner & Smith Inc.
Listing:	NYSE Arca: RJA
Cusip:	870297603

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