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Merrill Lynch plans to price 7.5% STEP Income Securities linked to Halliburton for Svensk
By Angela McDaniels
Tacoma, Wash., May 12 - AB Svensk Exportkredit plans to price 53-week 7.5% STEP Income Securities linked to the common stock of Halliburton Co. via Bank of America Merrill Lynch, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable quarterly.
If the stock finishes at or above the step level - 107.5% of the initial price - the payout at maturity will be par of $10 plus a step payment of 1% to 5%. The exact step payment will be set at pricing.
If the stock finishes at or above the threshold level - 95% of the initial price - but below the step level, the payout will be par.
Investors will lose 1% for every 1% that the final share price falls below the threshold level.
The notes are expected to price in May and settle in June.
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