Svensk plans discounted outperformance notes linked to basket via Goldman Sachs

By Laura Lutz

Des Moines, July 27 - AB Svensk Exportkredit plans to price an issue of discounted outperformance notes due 2008 linked to a long index and a short basket of stocks via underwriter Goldman, Sachs & Co., according to a 424B2 filing with the Securities and Exchange Commission.

The long index is the S&P Consumer Staples Select Sector index. The basket consists of 57 common stocks from the S&P Consumer Discretionary Select Sector index.

The notes are expected to price at between 95.2% and 95.6% of par. They are expected to mature in 13 months.

If the performance of the long index exceeds that of the short basket at maturity, the payout will be par plus the amount by which the long performance exceeds the short performance.

Investors will lose 1% for each 1% that the short basket performance exceeds that of the long index.

The notes are expected to settle in August.

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