Svensk plans enhanced outperformance notes linked to basket via Goldman Sachs

By Laura Lutz

Des Moines, Sept. 6 - AB Svensk Exportkredit plans to price an issue of enhanced 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 mature in 13 months.

If the percentage increase of the long index is at least that of the short basket, the payout at maturity will be par plus double the amount by which the long performance exceeds the short performance, capped at a maximum return that is expected to be between 32% and 36%. The exact cap will be set at pricing.

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

The notes are expected to price in September.

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