New Issue: Merrill Lynch prices $43.22 million Accelerated Return Notes tied to PHLX Oil for Svensk

By Toni Weeks

San Diego, June 27 - AB Svensk Exportkredit priced $43.22 million of 0% Accelerated Return Notes due Aug. 24, 2012 linked to the PHLX Oil Service Sector index, according to a 424B2 filing with the Securities and Exchange Commission.

Bank of America Merrill Lynch 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 $12.616 per $10.00 note. Investors will be fully exposed to any index decline.

Issuer:	AB Svensk Exportkredit
Issue:	Accelerated Return Notes
Underlying index:	PHLX Oil Service Sector
Amount:	$43,217,760
Maturity:	Aug. 24, 2012
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus three times the gain in the index, up to a cap of 26.16%; 1% loss for every 1% decline in the index
Initial index level:	254.73
Pricing date:	June 23
Settlement date:	July 1
Underwriter:	Bank of America Merrill Lynch
Fees:	2%
Cusip:	01019A799

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