Published on 4/16/2008 in the Prospect News Structured Products Daily.
New Issue: Svensk upsizes to $34.27 million notes linked to Hang Seng China Enterprises via Goldman Sachs
By E. Janene Geiss
Philadelphia, April 16 - AB Svensk Exportkredit priced an additional $7,768,000 million of 0% enhanced participation buffer notes due June 22, 2009 linked to the Hang Seng China Enterprises index via Goldman, Sachs & Co., according to a 424B filing with the Securities and Exchange Commission.
The notes initially priced on April 8 at $26,498,000. The new tranche, which is priced at $985.50 per note, brings the total offering to $34,266,000.
If the final index value is at least the initial value, the payout at maturity will be par plus 150% of any index gain, capped at a maximum payout equal to 136% of par.
If the index declines by up to 15%, the payout will be par. If the index declines by more than 15%, the payout will be par times the final index value divided by 85% of the initial value.
The final index value will be equal to the final index level expressed in U.S. dollars, converted at the U.S. dollar/Hong Kong dollar exchange rate on June 8, 2009.
| Issuer: | AB Svensk Exportkredit
|
| Issue: | Enhanced participation buffer notes
|
| Underlying index: | Hang Seng China Enterprises index
|
| Amount: | $34,266,000
|
| Maturity: | June 22, 2009
|
| Coupon: | 0%
|
| Price: | Par for $26,498,000; $985.50 for $7,768,000 tranche
|
| Payout at maturity: | If final index value is at least initial value, par plus 150% of any index gain, capped at 136% of par; par if index declines by up to 15%; if index declines by more than 15%, par times final index value divided by 85% of initial value
|
| Initial index level: | HK$13,374
|
| Initial index value: | $1,716.79, equal to initial index level expressed in U.S. dollars using an initial exchange rate of 7.7901 Hong Kong dollars per U.S. dollar
|
| Pricing date: | April 8 for initial offering; April 14 for $7,768,000 add-on
|
| Settlement date: | April 22
|
| Underwriter: | Goldman, Sachs & Co.
|
| Fees: | 0.25%
|
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