By Toni Weeks
San Diego, Jan. 10 - AB Svensk Exportkredit priced $12 million of floating-rate notes due Jan. 24, 2013 linked to the Dow Jones-UBS Commodity Index Total Return via Bank of America Merrill Lynch, according to an FWP with the Securities and Exchange Commission.
The coupon is equal to Libor minus 60 basis points. It is reset quarterly and payable at maturity.
The payout at maturity, in addition to interest, will be par plus triple the sum of the index return minus the Treasury bill yield minus a fee of 0.25% per year. The T-bill yield will be the sum of the 91-day weekly auction high rates for U.S. Treasury bills for each day during the life of the notes.
The notes are putable at any time if requested by all holders, and the notes will be called if the index closes at 15% or more below its initial level. In each case, the payout will be calculated in the same way as that at maturity.
| Issuer: | AB Svensk Exportkredit
|
| Issue: | Floating-rate notes
|
| Underlying index: | Dow Jones-UBS Commodity Index Total Return
|
| Amount: | $12 million
|
| Maturity: | Jan. 24, 2013
|
| Coupon: | Libor minus 60 bps, reset quarterly and payable at maturity
|
| Price: | Par
|
| Payout at maturity: | Par plus 300% of the sum of the index return minus the T-bill yield minus a fee of 0.25% per year
|
| Put option: | At any time if requested by all holders
|
| Call: | Automatically if index closes at 85% of its initial level or below
|
| Pricing date: | Jan. 6
|
| Settlement date: | Jan. 13
|
| Underwriter: | Bank of America Merrill Lynch
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| Cusip: | 00254ELJ9
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