Published on 3/9/2018 in the Prospect News Structured Products Daily.
New Issue: BofA Merrill prices $2.69 million more Elements on Rogers Agriculture for Svensk
By Marisa Wong
Morgantown, W.Va., March 9 –AB Svensk Exportkredit priced an additional $2,686,140 of 0% Elements due Oct. 24, 2022 linked to the Rogers International Commodity Index – Agriculture Total Return via BofA Merrill Lynch, according to a 424B3 filing with the Securities and Exchange Commission.
The issuer sold $4.3 million principal amount of additional notes in four tranches: $600,000 at 61.386 for proceeds of $368,316; $1.1 million at 62.126 for proceeds of $683,386; $600,000 at 62.863 for proceeds of $377,178; and $2 million at 62.863 for proceeds of $1,257,260.
The original $4 million of the notes priced at par of $10 on Oct. 17, 2007. Additional securities have been sold since the inception date at variable pries.
The payout at maturity will be par plus the index return, which could be positive or negative, less an annual investor fee of 0.75%.
The notes are putable on weekly repurchase dates, subject to a minimum of $5 million of notes.
The notes are listed on NYSE Arca under the symbol “RJA.”
| Issuer: | AB Svensk Exportkredit
|
| Issue: | Elements
|
| Underlying index: | Rogers International Commodity Index – Agriculture Total Return
|
| Initial amount: | $4 million
|
| Outstanding amount: | $156.05 million as of Nov. 2
|
| Proceeds: | $2,686,140 for latest $4.3 million principal amount of add-ons
|
| Maturity: | Oct. 24, 2022
|
| Coupon: | 0%
|
| Price: | Par of $10 for original $4 million; $600,000 at 61.386, $1.1 million at 62.126, $600,000 at 62.863 and $2 million at 62.863 for latest add-ons
|
| Payout at maturity: | Par plus index return minus annual investor fee of 0.75%
|
| Put option: | On weekly repurchase dates subject to minimum of $5 million
|
| Initial index level: | 1,236.05
|
| Inception date: | Oct. 17, 2007 for original $4 million
|
| Settlement dates: Oct. 24, 2007 for original $4 million; Feb. 8 for $600,000, Feb. 27 for $1.1 million, March 5 for $600,000 and $2 million in latest add-ons
|
| Underwriter: | BofA Merrill Lynch
|
| Listing: | NYSE Arca: RJA
|
| Cusip: | 870297603
|
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