Published on 4/30/2010 in the Prospect News Structured Products Daily.
New Issue: Wells prices $4.58 million 12.25% enhanced yield notes on Freeport-McMoRan for Svensk
By Jennifer Chiou
New York, April 30 - AB Svensk Exportkredit priced $4.58 million of 12.25% annualized enhanced yield securities due Nov. 10, 2010 linked to the common stock of Freeport-McMoRan Copper & Gold Inc. via Wells Fargo Securities, LLC, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless Freeport-McMoRan stock falls by 25% or more during the life of the notes and finishes below the initial share price, in which case investors will receive a number of Freeport-McMoRan shares equal to $1,000 divided by the initial share price.
Issuer: | AB Svensk Exportkredit
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Issue: | Enhanced yield securities
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Underlying stock: | Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX)
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Amount: | $4,577,000
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Maturity: | Nov. 10, 2010
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Coupon: | 12.25%, payable monthly
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Price: | Par
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Payout at maturity: | If Freeport-McMoRan stock falls to or below the knock-in price during the life of the notes and finishes below the initial price, 12.8667 Freeport-McMoRan shares; otherwise, par
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Initial share price: | $77.72
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Knock-in price: | $58.29, 75% of initial price
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Pricing date: | April 29
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Settlement date: | May 6
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Underwriter: | Wells Fargo Securities, LLC
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Fees: | 1.25%
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Cusip: | 35671D857
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