By Jennifer Chiou
New York, Feb. 27 - AB Svensk Exportkredit priced $12 million of floating-rate notes due April 1, 2013 linked to the Dow Jones-UBS Commodity Index Total Return 3 Month Forward, according to an FWP with the Securities and Exchange Commission.
Bank of America Merrill Lynch is the underwriter.
The interest rate is equal to Libor. It is reset quarterly and payable at maturity.
The payout at maturity will be par plus triple the sum of the index return minus a fee of 0.47% per year minus the U.S. Treasury bill yield. The T-bill yield will be the sum of the 91-day weekly auction high rate for U.S. Treasury bills for each day during the life of the notes.
The notes are putable until March 25, 2013 if requested by all holders, and the notes will be called if the index closes at or below 85% of its initial level. In each case, the payout will be calculated in the same way as that at maturity.
The index tracks the returns of rolling commodities futures contracts and comprises futures contracts on 20 physical commodities.
| Issuer: | AB Svensk Exportkredit
|
| Issue: | Floating-rate notes
|
| Underlying index: | Dow Jones-UBS Commodity Index Total Return 3 Month Forward
|
| Amount: | $12 million
|
| Maturity: | April 1, 2013
|
| Coupon: | Libor, reset quarterly and payable at maturity
|
| Price: | Par
|
| Payout at maturity: | Par plus 300% of the sum of the index return minus 0.47% per year less the T-bill yield
|
| Put option: | Until March 25, 2013 if requested by all holders
|
| Call: | If index closes at 85% of its initial level or below
|
| Initial level: | 651.4986
|
| Pricing date: | Feb. 24
|
| Settlement date: | March 2
|
| Agent: | Bank of America Merrill Lynch
|
| Cusip: | 00254ELK6
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
