By Angela McDaniels
Tacoma, Wash., March 17 - AB Svensk Exportkredit priced $10 million of floating-rate notes due March 27, 2009 linked to the S&P GSCI Index - Total Return via Goldman, Sachs & Co., according to an FWP filing with the Securities and Exchange Commission.
Interest is payable quarterly and equals Libor minus 27 basis points.
The notes will be called if the index falls to or below 88% of its initial level, and a holder of all the notes may put the notes at any time.
The payout upon redemption or at maturity will be par plus 300% of the index return minus triple the sum of the daily Treasury bill auction high rates during the life of the notes and minus a 1% annual fee.
| Issuer: | AB Svensk Exportkredit
|
| Issue: | Floating-rate notes
|
| Underlying index: | S&P GSCI Index - Total Return
|
| Amount: | $10 million
|
| Maturity: | March 27, 2009
|
| Coupon: | Libor minus 27 bps; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par plus 300% of the index return minus triple the sum of the daily Treasury bill auction high rates during the life of the notes and minus a 1% annual fee
|
| Call: | Automatically if the index falls to or below the trigger level
|
| Put: | At any time by a holder of all the notes
|
| Initial index level: | 8,809.828
|
| Trigger level: | 7,752.649, 88% of initial level
|
| Pricing date: | March 13
|
| Settlement date: | March 20
|
| Underwriter: | Goldman, Sachs & Co.
|
| Fees: | 0.25%
|
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