Goldman Sachs to price enhanced participation notes linked to Hang Seng China Enterprises for Svensk

By Laura Lutz

Des Moines, April 22 - AB Svensk Exportkredit plans to price 0% enhanced participation buffer notes due 2009 linked to the Hang Seng China Enterprises index via Goldman, Sachs & Co., according to a 424B2 filing with the Securities and Exchange Commission.

The notes are expected to mature 13 to 15 months after issue.

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 that is expected to be between 130% and 139% of par. The exact cap will be set at pricing.

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 quotient of the final index value divided by 85% of the initial value.

The initial and final index values will be equal to the index level expressed in U.S. dollars, converted at the then-current U.S. dollar/Hong Kong dollar exchange rate.

The notes are expected to price in April.

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