New Issue: Merrill Lynch sells $59.91 million capped leveraged notes tied to corn for Svensk

By Marisa Wong

Madison, Wis., Feb. 15 - AB Svensk Exportkredit priced $59.91 million of 0% Capped Leveraged Index Return Notes due Dec. 2, 2011 linked to the front-month corn futures contract via Merrill Lynch, Pierce, Fenner & Smith Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus 200% of any increase in the price of the futures contract, subject to a maximum return of 46%.

Investors will receive par if the price declines by 10% or less and will lose 1% for every 1% decline beyond 10%.

Issuer:	AB Svensk Exportkredit
Issue:	Capped Leveraged Index Return Notes
Underlying commodity:	Front-month corn futures contract
Amount:	$59,906,150
Maturity:	Dec. 2, 2011
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 200% of any price gain, capped at 46%; exposure to losses beyond 10%
Initial price:	$706.50
Pricing date:	Feb. 11
Settlement date:	Feb. 18
Underwriter:	Merrill Lynch, Pierce, Fenner & Smith Inc.
Fees:	1.25%
Cusip:	01019M165

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