By Susanna Moon
Chicago, July 22 - AB Svensk Exportkredit priced $8 million of notes due Sept. 25, 2009 linked to the Modified Standard & Poor's Diversified Trends Indicator - Total Return, according to an FWP filing with the Securities and Exchange Commission.
Goldman, Sachs & Co. is the underwriter.
The modified index is the S&P DTI-TR as modified by changes to its methodology developed by Goldman Sachs.
The notes bear interest at Libor minus 27 basis points per year. Interest will be reset and payable quarterly.
Payout at maturity will be par plus triple the index return, minus triple the final Treasury bill amount and minus three times the 1.5% annual fee. The final T-bill amount will equal the sum of the auction high rate of the three-month T-bill for each day during the life of the notes.
A holder of 100% of the principal amount of the notes may require Svensk to redeem them at any time. The redemption amount will be calculated in the same way as the payout at maturity.
The notes will also be called if the index falls by 15% or more, and the redemption amount will be calculated using the closing value of the index on the day prior to the call.
| Issuer: | AB Svensk Exportkredit
|
| Issue: | Notes
|
| Underlying index: | Modified Standard & Poor's Diversified Trends Indicator - Total Return
|
| Amount: | $8 million
|
| Maturity: | Sept. 25, 2009
|
| Coupon: | Libor minus 27 bps per year, reset and payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par plus triple the index return minus triple the final T-bill amount and minus three times the 1.5% annual fee
|
| Call: | If index falls below 85% of initial level; calculated same as payout at maturity
|
| Put: | At any time by a holder of 100% of the notes; calculated same as payout at maturity
|
| Initial index level: | 1,529.486
|
| Trigger level: | 85% of initial level
|
| Pricing date: | July 18
|
| Settlement date: | July 25
|
| Underwriter: | Goldman, Sachs & Co.
|
| Fees: | 0.25%
|
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