By Laura Lutz
Des Moines, May 2 - AB Svensk Exportkredit sold an additional $15 million of 0% Elements due Oct. 24, 2022 linked to the Rogers International Commodity Index - Agriculture Total Return in two tranches via Nuveen Investments and Merrill Lynch & Co. in three tranches, according to a 424B3 filing with the Securities and Exchange Commission.
Svensk sold $5 million of notes at 118.354 on April 22, $5 million of notes at 118.219 on April 23 and $5 million of notes at 114.975 on April 29.
These trances bring the total deal size to $265.5 million.
Originally, $4 million of the notes priced at par on Oct. 17. From then to March 27, Svensk sold $250.5 million of notes in 39 tranches at prices ranging from 99.899 to 131.313.
The company originally registered $250 million of the notes.
The index represents the value of a basket of 20 agricultural commodity futures contracts and is a sub-index of the Rogers International Commodity Index - Total Return, which is a composite, dollar-based, total return index representing the value of a basket of commodities consumed in the global economy.
The payout at maturity will be par plus the index return, less an annual investor fee of 0.75% times the proportion of days elapsed.
Beginning Jan. 28, 2008, holders may put back the notes on a weekly repurchase date. There is a minimum put requirement of $5 million of notes.
The notes were approved for listing on the American Stock Exchange under the symbol "RJA."
| Issuer: | AB Svensk Exportkredit
|
| Issue: | Elements
|
| Underlying index: | Rogers International Commodity Index - Agriculture Total Return
|
| Amount: | $265.5 million, upsized from $4 million
|
| Maturity: | Oct. 24, 2022
|
| Coupon: | 0%
|
| Price: | Par (for original $4 million); 118.354 (for $5 million); 118.219 (for $5 million); 114.975 (for $5 million)
|
| Payout at maturity: | Par plus index return minus investor fee of 0.75% times proportion of days elapsed
|
| Put: | On weekly repurchase dates beginning Jan. 28, 2008
|
| Pricing date: | Oct. 17 (for original $4 million)
|
| Settlement date: | Oct. 24 (for original $4 million); April 22 (for $5 million); April 23 (for $5 million); April 29 (for $5 million)
|
| Agents: | Nuveen Investments and Merrill Lynch & Co.
|
| Listing: | Amex: RJA
|
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