Published on 9/3/2015 in the Prospect News Structured Products Daily.
New Issue: BofA prices $290,712 more Elements linked to Spectrum Large Cap for Svensk
By Angela McDaniels
Tacoma, Wash., Sept. 3 – AB Svensk Exportkredit priced an additional $290,712 of 0% Elements due Aug. 8, 2022 linked to the Spectrum Large Cap U.S. Sector Momentum index via BofA Merrill Lynch, according to a 424B3 filing with the Securities and Exchange Commission.
Of the $200,000 principal amount of additional notes, half priced at 141.017 and the other half priced at 149.695.
The company has priced $11.56 million of the notes since August 2007, when it announced it would issue up to $250 million of the notes.
The index was developed by BNP Paribas and tracks the value of a notional portfolio composed of 10 sub-indexes of the S&P 500. The weights may be rebalanced daily according to a momentum strategy that increases the allocation to those that outperform the S&P 500 Total Return index and cuts those that underperform. The weights are then modified to account for the correlation between the sub-indexes and the S&P 500 Total Return index.
The payout at maturity will be par plus the index return less an annual investor fee of 0.75%.
Holders may put back the notes for repurchase on weekly repurchase dates. There is a minimum put requirement of $5 million of securities.
The notes are listed on the NYSE Arca under the symbol “EEH.”
| Issuer: | AB Svensk Exportkredit
|
| Issue: | Elements
|
| Underlying index: | Spectrum Large Cap U.S. Sector Momentum index
|
| Amount: | $11,562,000, increased from $10,162,000
|
| Maturity: | Oct. 24, 2022
|
| Coupon: | 0%
|
| Prices: | Par for original $10,162,000; in latest add-ons, 141.017 for $100,000 and 149.695 for $100,000
|
| Payout at maturity: | Par plus the index return less an annual investor fee of 0.75%
|
| Call option: | On weekly repurchase dates
|
| Inception date: | Aug. 1, 2007 for original issue
|
| Settlement dates: Aug. 8, 2007 for original issue; in latest add-ons, Aug. 31 for $100,000 and Sept. 2 for $100,000
|
| Underwriter: | BofA Merrill Lynch
|
| Listing: | NYSE Arca: EEH
|
© 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.
