By Jennifer Chiou
New York, Aug. 6 - AB Svensk Exportkredit priced a $10.162 million add-on to its issue of 0% Elements due Aug. 8, 2022 linked to the Spectrum Large Cap U.S. Sector Momentum index via agents Nuveen Investments and Merrill Lynch & Co., according to a 424B2 filing with the Securities and Exchange Commission.
Svensk originally priced $250 million of the notes.
The index was developed by BNP Paribas and is also referred to as the S&P Custom/BNP Paribas - Spectrum U.S. Sector Momentum index. It tracks the value of a notional portfolio composed of 10 sub-indexes of the S&P 500. The weights may be rebalanced daily according to a momentum strategy that increases the allocation to those that outperform the S&P 500 Total Return index and cuts those that underperform. The weights are then modified to account for the correlation between the sub-indexes and the S&P 500 Total Return index.
At maturity, investors will receive par plus the index return, less an annual investor fee of 0.75% times the proportion of days elapsed.
Beginning ninety days after the issue date, holders may put back the notes for repurchase on a weekly repurchase date.
The securities have been approved for listing on the New York Stock Exchange under "EEH."
| Issuer: | AB Svensk Exportkredit
|
| Issue: | Elements
|
| Underlying index: | Spectrum Large Cap U.S. Sector Momentum
|
| Amount: | $260.162 million, including $10.162 million add-on
|
| Maturity: | Aug. 8, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus the index return, less an annual investor fee of 0.75% times the proportion of days elapsed
|
| Put: | Beginning ninety days after the issue date
|
| Initial index level: | 1,063.97
|
| Pricing date: | Aug. 1
|
| Settlement date: | Aug. 8
|
| Agents: | Nuveen Investments and Merrill Lynch & Co.
|
| Fees: | None
|
| Listing: | NYSE: EEH
|
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