Merrill plans accelerated notes on PHLX Oil Service Sector for Svensk

By Marisa Wong

Madison, Wis., May 27 - AB Svensk Exportkredit plans to price 0% Accelerated Return Notes due August 2012 linked to the PHLX Oil Service Sector index, according to an FWP filing with the Securities and Exchange Commission.

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

The payout at maturity will be par of $10.00 plus triple any index gain, up to a maximum payment of $12.00 to $12.40 per note. The exact cap will be set at pricing.

Investors will be exposed to any losses.

The notes are expected to price in June and settle in July.

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