By Jennifer Chiou
New York, July 17 - Lehman Brothers Inc. priced $6 million of floating-rate notes due July 24, 2009 linked to the S&P Commodity Trends Indicator - Total Return for issuer AB Svensk Exportkredit, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly. It accrues at a rate equal to one-month Libor minus 27 basis points.
The payout at maturity will be par plus 300% of the index return, minus triple the realized Treasury bill amount and minus an annualized fee of 1.38% per year, subject to a minimum of 0.67%.
The notes will be automatically called if the index closes at or below 85% of its initial level, and holders may put their notes at any time. In both instances, the redemption amount will be determined in the same manner as the payout at maturity.
| Issuer: | AB Svensk Exportkredit
|
| Issue: | Floating-rate notes
|
| Underlying index: | S&P Commodity Trends Indicator - Total Return
|
| Amount: | $6 million
|
| Maturity: | July 24, 2009
|
| Coupon: | One-month Libor minus 27 bps; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par plus triple the index return, minus triple the realized Treasury bill amount and minus a fee of 1.38% per year
|
| Call: | If index closes at or below 85% of its initial level
|
| Put: | At any time
|
| Initial index level: | 1,908.771
|
| Pricing date: | July 16
|
| Settlement date: | July 23
|
| Underwriter: | Lehman Brothers Inc.
|
| Fees: | None
|
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