Merrill Lynch plans Accelerated Return Notes on S&P 500 for Svensk

By Jennifer Chiou

New York, July 28 - AB Svensk Exportkredit plans to price 0% Accelerated Return Notes due October 2011 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10.00 plus triple any gain in the index, up to a maximum payment of $11.50 to $11.90 per note. The exact cap will be set at pricing.

Investors will be exposed to any index decline.

The notes will price in August and settle in September, at which time the Cusip will be announced.

Merrill Lynch, Pierce, Fenner & Smith Inc. is the agent.

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