New Issue: Goldman Sachs upsizes bull notes linked to five currencies to $26.31 million for Svensk

By Angela McDaniels

Tacoma, Wash., Dec. 17 - Goldman, Sachs & Co. priced an additional $7.29 million of zero-coupon principal-protected bull notes due June 19, 2009 linked to a basket of five currencies for issuer AB Svensk Exportkredit, according to an FWP filing with the Securities and Exchange Commission.

The company originally priced $19.03 million of the notes on Dec. 7. The principal amount of notes priced is now $26.31 million.

The basket contains equal weights of the Brazilian real, Malaysian ringgit, Russian ruble, Singapore dollar and Taiwan dollar.

The payout at maturity will be par plus 150% of any appreciation in the basket relative to the U.S. dollar. If the basket remains flat or depreciates relative to the U.S. dollar, the payout will be par.

Issuer:	AB Svensk Exportkredit
Issue:	Principal-protected bull notes
Underlying currencies:	Brazilian real, Malaysian ringgit, Russian ruble, Singapore dollar and Taiwan dollar, equally weighted
Amount:	$26,310,000, upsized from $19,025,000
Maturity:	June 19, 2009
Coupon:	0%
Price:	Par for original issue; 99.466 for $7,285,000 add-on
Payout at maturity:	Par plus 150% of any basket appreciation versus the U.S. dollar; floor of par
Initial exchange rates:	1.766 reais per U.S. dollar; 3.3225 ringgits per U.S. dollar; 24.5 rubles per U.S. dollar; 1.441 Singapore dollars per U.S. dollar; 32.29 Taiwan dollars per U.S. dollar
Pricing date:	Dec. 7 for original issue; Dec. 14 for add-on
Settlement date:	Dec. 20
Underwriter:	Goldman, Sachs & Co.
Fees:	0.25%

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