New Issue: Goldman Sachs prices $15.6 million bull notes linked to rupiah, Philippine peso for Svensk

By Angela McDaniels

Tacoma, Wash., Nov. 26 - AB Svensk Exportkredit priced $15.6 million of zero-coupon 97.5% principal-protected bull notes due June 13, 2009 linked to a basket of currencies via underwriter Goldman, Sachs & Co., according to a 424B2 filing with the Securities and Exchange Commission.

The basket contains equal weights of the Indonesian rupiah and the Philippine peso.

If the basket appreciates relative to the dollar by 2.5% or more, the payout at maturity will be 113.5% of par. Otherwise, the payout will be 97.5% of par.

Issuer:	AB Svensk Exportkredit
Issue:	97.5% principal-protected bull notes
Underlying currencies:	Indonesian rupiah and the Philippine peso, equally weighted
Amount:	$15,619,000
Maturity:	June 13, 2009
Coupon:	0%
Price:	Par
Payout at maturity:	If the basket appreciates relative to the dollar by 2.5% or more, 113.5% of par; otherwise, 97.5% of par
Initial exchange rates:	9,725 rupiah per dollar; 43.3 pesos per dollar
Pricing date:	Nov. 22
Settlement date:	Dec. 13
Underwriter:	Goldman, Sachs & Co.
Fees:	0.25%

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