By Susanna Moon
Chicago, June 2 - AB Svensk Exportkredit sold an additional $10 million of 0% Elements due Oct. 24, 2022 linked to the Rogers International Commodity Index - Energy Total Return in three tranches via underwriters Nuveen Investments and Merrill Lynch & Co., according to a 424B2 filing with the Securities and Exchange Commission.
The issuer sold $5 million of the Elements at 143.889 on May 9, $2.5 million of the notes at 152.155 on May 20 and $2.5 million of the notes at 158.663 on May 27. The total deal size is now $25 million.
Originally, $4 million priced at par on Oct. 17.
The offering can be increased up to the maximum $250 million that has been registered.
The index represents the value of a basket of six energy 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, ranging from agricultural to energy and metals products.
At maturity, investors will receive par plus the index return, less an annual investor fee of 0.75% times the proportion of days elapsed.
Beginning 90 days after the issue date, holders may put back the notes for repurchase on a weekly repurchase date. There is a minimum put requirement of $5 million of securities.
The notes were approved for listing on the American Stock Exchange under the symbol "RJN."
| Issuer: | AB Svensk Exportkredit
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| Issue: | Elements
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| Underlying index: | Rogers International Commodity Index - Energy Total Return
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| Amount: | $25 million, upsized from $4 million
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| Maturity: | Oct. 24, 2022
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| Coupon: | 0%
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| Price: | Par of $10 (for $4 million), 111.151 (for $1 million), 118.403 (for $5 million), 131.686 (for $5 million), 143.889 (for $5 million), 152.155 (for $2.5 million) and 158.663 (for $2.5 million)
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| Payout at maturity: | Par plus the index return less an investor fee of 0.75% times the proportion of days elapsed
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| Pricing dates: | Oct. 17 (for $4 million); Nov. 7 (for $1 million); Feb. 25 (for $5 million)
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| Settlement dates: | Oct. 24 (for $4 million); Nov. 13 (for $1 million); Feb. 29 (for $5 million); April 17 (for $5 million); May 9 (for $5 million); May 20 (for $2.5 million); May 27 (for $2.5 million)
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| Underwriters: | Nuveen Investments and Merrill Lynch & Co.
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| Listing: | Amex: RJN
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