By Angela McDaniels
Tacoma, Wash., May 4 - AB Svensk Exportkredit priced an additional $116.5 million principal amount of 0% Elements due Oct. 24, 2022 linked to the Rogers International Commodity Index - 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 33 tranches between March 1 and May 2. The issuer settled $10 million at 97.503 on March 1, $3.5 million at 97.295 on March 3, $6 million at 100.812 on March 8, $2 million at 100.9 on March 9, $5 million at 101.795 on March 10, $4 million at 101.185 on March 11, $5 million at 100.103 on March 14, $1 million at 100.127 on March 14, $4 million at 99.851 on March 15, $6 million at 97.56 on March 17, $2 million at 97.04 on March 18, $1.5 million at 97.7 on March 23, $6 million at 98.001 on March 24, $7 million at 98.567 on March 25, $7 million at 99.306 on March 28, $2 million at 100.239 on March 30 and $2 million at 100.167 on March 31.
The issuer also settled $5 million at 98.903 on April 1, $1 million at 99.211 on April 4, $1 million at 98.976 on April 5, $5 million at 101.356 on April 7, $2 million at 102.74 on April 11, $3.5 million at 102.86 on April 12, $3 million at 102.86 on April 12, $2 million at 103.75 on April 15, $2 million at 101.427 on April 19, $1 million at 102.135 on April 21, $2 million at 101.298 on April 26, $1 million at 101.51 on April 26, $3.5 million at 103 on April 29.
Finally, Svensk settled $6.5 million at 103.582 on May 2, $1 million at 103.673 on May 2 and $3 million at 103.169 on May 2.
In total, the company has priced $1.04 billion principal amount of the notes in 118 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, which could be positive or negative, 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: | $1,039,500,000, increased from $4 million
|
| Maturity: | Oct. 24, 2022
|
| Coupon: | 0%
|
| Price: | Par of $10 for original $4 million; 97.04 to 103.75 for latest add-ons
|
| 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; March 1 to May 2 for latest add-ons
|
| Underwriters: | Nuveen Investments, LLC and Merrill Lynch, Pierce, Fenner & Smith Inc.
|
| Listing: | NYSE Arca: RJI
|
| Cusip: | 870297801
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