By Angela McDaniels
Tacoma, Wash., May 4 - AB Svensk Exportkredit priced an additional $51.5 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 15 tranches between March 14 and May 2. The issuer settled $4 million at 114.736 on March 14, $1.5 million at 113.544 on March 15, $6 million at 108.996 on March 23, $4 million at 110.223 on March 24, $7 million at 110.576 on March 28, $2 million at 109.712 on March 29, $4 million at 111.826 on March 30 and $4.5 million at 111.751 on March 31.
Svensk also settled $5 million at 109.814 on April 1, $1 million at 109.798 on April 5, $2 million at 113.535 on April 6, $1 million at 114.192 on April 12, $4.5 million at 111.459 on April 18, $4 million at 110.621 on April 20 and $1 million at 112.71 on May 2.
In total, the issuer has priced $929.5 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, 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 "RJA."
| Issuer: | AB Svensk Exportkredit
|
| Issue: | Elements
|
| Underlying index: | Rogers International Commodity Index - Agriculture Total Return
|
| Amount: | $929.5 million, increased from $4 million
|
| Maturity: | Oct. 24, 2022
|
| Coupon: | 0%
|
| Price: | Par of $10 for original $4 million; 109.712 to 114.736 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
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| Settlement dates: | Oct. 24, 2007 for original $4 million; March 14 to May 2 for latest add-ons
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| Underwriters: | Nuveen Investments, LLC and Merrill Lynch, Pierce, Fenner & Smith Inc.
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| Listing: | NYSE Arca: RJA
|
| Cusip: | 870297603
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