Published on 6/13/2008 in the Prospect News Structured Products Daily.
New Issue: Goldman upsizes leveraged bear notes on New Zealand dollar to $107.66 million for Svensk
By Susanna Moon
Chicago, June 13 - AB Svensk Exportkredit increased the 0% leveraged bear notes due Dec. 17, 2009 linked to the performance of the New Zealand dollar relative to a basket of currencies to $107.66 million, according to a 424B2 filing with the Securities and Exchange Commission.
The additional notes priced at 102.95.
Goldman, Sachs & Co., the underwriter, originally priced $102.76 million of the notes.
The basket includes equal weights of the Brazilian real, Norwegian krone and U.S. dollar.
The payout at maturity will be par plus 167.5% of any appreciation of the basket relative to the New Zealand dollar. Investors will be fully exposed to any basket depreciation.
Issuer: | AB Svensk Exportkredit
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Issue: | Leveraged bear notes
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Underlying currencies: | Equal weights of the Brazilian real, Norwegian krone and U.S. dollar, each relative to the New Zealand dollar
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Amount: | $107,663,000, upsized from $102,757,000
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Maturity: | Dec. 17, 2009
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Coupon: | 0%
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Price: | Par for original issue; 102.95 for add-on
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Payout at maturity: | Par plus 167.5% of any basket appreciation; full exposure to any basket depreciation
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Initial exchange rates: | 1.387 reais per New Zealand dollar, 3.8015 kroner per New Zealand dollar, 0.7272 of a U.S. dollar per New Zealand dollar
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Pricing date: | May 27 for original issue; June 11 for add-on
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Settlement date: | June 17
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Underwriter: | Goldman, Sachs & Co.
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Fees: | 0.25%
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