By E. Janene Geiss
Philadelphia, Sept. 10 - AB Svensk Exportkredit sold another $15 million of 0% Elements due Oct. 24, 2022 linked to the Rogers International Commodity Index - Agriculture Total Return in four tranches via Nuveen Investments and Merrill Lynch & Co., according to a 424B3 filing with the Securities and Exchange Commission.
Svensk sold $5 million of the notes at 73.35 on Aug. 17, $4 million of the notes at 70.368 on Aug. 25, $5 million at 68.5 on Sept. 11 and $1 million of the notes at 68.5 on Sept. 11.
In total, the issuer has sold $444 million of the notes. Svensk has sold additional notes in 43 tranches at prices ranging from 99.899 to 131.313. Originally, $4 million of the notes priced at par on Oct. 17, 2007.
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.
Holders may put back the notes on weekly repurchase dates, subject to a minimum of $5 million of notes.
The notes are listed on the NYSE Arca under the symbol "RJA."
Issuer: | AB Svensk Exportkredit
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Issue: | Elements
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Underlying index: | Rogers International Commodity Index - Agriculture Total Return
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Amount: | $444 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 for original $4 million; in latest tranches, 73.35 for $5 million, 70.368 for $4 million, 68.5 for $5 million and 68.5 for $1 million
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Payout at maturity: | Par plus index return minus investor fee of 0.75% times proportion of days elapsed
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Put option: | On weekly repurchase dates
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Pricing date: | Oct. 17, 2007 for original $4 million
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Settlement dates: | Oct. 24, 2007 for original $4 million; in latest tranches, Aug. 17 for $5 million, Aug. 25 for $4 million, Sept. 11 for $5 million and Sept. 11 for $1 million
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Agents: | Nuveen Investments and Merrill Lynch & Co.
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Listing: | NYSE Arca: RJA
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