Published on 12/1/2006 in the Prospect News Structured Products Daily.
New Issue: Svensk prices additional $4.71 million notes linked to S&P, Russell via Goldman Sachs
By Angela McDaniels
Seattle, Dec. 1 - AB Svensk Exportkredit priced an additional $4.71 million of 0% enhanced outperformance notes due Dec. 6, 2008 linked to the S&P 500 and Russell 2000 indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The company originally priced $32.965 million of the notes on Nov. 21. The total amount of notes sold is now $37.675 million.
The payout at maturity will be based on the performance of the indexes, with the S&P 100 as the long index and the Russell 2000 as the short index. If the long index return exceeds that of the short index return, noteholders will receive par plus triple the percentage by which the long index return exceeds the short index return, capped at a maximum return of 38.1%.
If the short index exceeds that of the long index return, noteholders will receive par minus an amount equal to the short index return minus the long index return.
| Issuer: | AB Svensk Exportkredit
|
| Underwriter: | Goldman, Sachs & Co.
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| Issue: | Enhanced outperformance notes
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| Underlying indexes: | S&P 100, Russell 2000
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| Amount: | $37.675 million (upsized from $32.965 million)
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| Maturity: | Dec. 6, 2008
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| Coupon: | 0%
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| Price: | Par for notes sold on Nov. 21, 101.34% of par for notes sold on Nov. 30
|
| Payout at maturity: | Par plus triple the amount by which the long index return exceeds the short index return, capped at a 38.1% return; otherwise, par minus an amount equal to the short index return minus the long index return
|
| Initial long index level: | 1,402.14
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| Initial short index level: | 790.14
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| Pricing date: | Nov. 21
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| Settlement date: | Dec. 6
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| Underwriting discount: | 0.25%
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