New Issue: Goldman Sachs prices $20.37 million 0% leveraged bear notes linked to euro for Svensk

By Laura Lutz

Des Moines, April 11 - AB Svensk Exportkredit priced $20.37 million of 0% leveraged bear notes due May 29, 2009 linked to the euro against the dollar, according to a 424B2 filing with the Securities and Exchange Commission.

Goldman, Sachs & Co. is the underwriter.

If the euro declines against the dollar, the payout at maturity will be par plus 150% of the absolute value of the percentage decline in the exchange rate.

Investors will lose 1% for each 1% that the euro increases relative to the dollar.

Issuer:	AB Svensk Exportkredit
Issue:	Leveraged bear notes
Underlying currency:	Euro relative to dollar
Amount:	$20,372,000
Maturity:	May 29, 2009
Coupon:	0%
Price:	Par
Payout at maturity:	If euro falls against dollar, par plus 150% of the absolute value of the percentage drop in exchange rate; 1% loss for each 1% gain in the euro versus the dollar
Initial exchange rate:	1.5332 dollars per euro
Pricing date:	April 9
Settlement date:	April 30
Underwriter:	Goldman, Sachs & Co.
Fees:	0.25%

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