By Laura Lutz
Des Moines, April 24 - AB Svensk Exportkredit priced $3 million of notes due April 29, 2009 linked to the S&P Commodity Trends Indicator - Total Return, according to an FWP filing with the Securities and Exchange Commission.
Lehman Brothers Inc. is the underwriter.
The notes will bear interest at 1-month Libor minus 28 basis points, compounded monthly.
Interest will be payable at maturity or upon redemption.
If the indicator drops below 85% of its initial level at any time during the life of the notes, they will be automatically called.
Holders may put the notes at any time.
The payout at maturity or upon redemption will be equal to par plus 300% of the indicator return - whether positive or negative - minus the final Treasury bill amount and minus a fee of 1.42% per year.
The final T-bill amount will equal the product of the 91-day weekly auction high discount rates for U.S. Treasury bills for each day that the notes are held.
Even if the notes are called early, the fee amount will not be less than 0.67%
| Issuer: | AB Svensk Exportkredit
|
| Issue: | Notes
|
| Underlying rate: | S&P Commodity Trends Indicator - Total Return
|
| Amount: | $3 million
|
| Maturity: | April 29, 2009
|
| Coupon: | 1-month Libor minus 28 basis points, compounded monthly; payable at maturity or upon redemption
|
| Price: | Par
|
| Payout at maturity: | Par plus 300% of indicator return minus final T-bill amount and minus 1.42% annual fee; T-bill amount equal to product of 91-day weekly auction high discount rates for U.S. Treasury bills for each day notes are held; fee will be at least 0.67%
|
| Call: | Automatic if indicator drops below 85% of its initial value during life of notes; payout calculated same as payout at maturity
|
| Put: | At any time; calculated same as payout at maturity
|
| Pricing date: | April 22
|
| Settlement date: | April 29
|
| Underwriter: | Lehman Brothers Inc.
|
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