New Issue: Goldman Sachs prices $23 million floaters linked to S&P GSCI Excess Return for Svensk

By Jennifer Chiou

New York, March 4 - AB Svensk Exportkredit priced $23 million of floating-rate notes due March 22, 2011 linked to the S&P GSCI Index - Excess Return via Goldman, Sachs & Co., according to an FWP with the Securities and Exchange Commission.

Interest is payable quarterly and equals Libor minus 27 basis points.

The payout at maturity will be par plus triple any positive or negative return on the index, minus a 20 bps annual fee.

The notes are redeemable if the index ever settles at 88% of the initial index level, and the redemption amount will be calculated in the same manner as the payout at maturity.

Issuer:	AB Svensk Exportkredit
Issue:	Floating-rate notes
Underlying index:	S&P GSCI Index - Excess Return
Amount:	$23 million
Maturity:	March 22, 2011
Coupon:	Libor minus 27 basis points, payable and reset quarterly
Price:	Par
Put:	At any time
Payout at maturity:	Par plus triple any positive or negative return on the index, minus a 20 bps annual fee
Put:	Redeemable if the index ever settles at 88%, or 383.0155, of the initial index level, calculated the same as the payout at maturity
Initial index level:	435.2449
Pricing date:	March 3
Settlement date:	March 10
Underwriter:	Goldman, Sachs & Co.
Fees:	0.25%

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