By Susanna Moon
Chicago, April 30 - AB Svensk Exportkredit priced $7.5 million of floating-rate commodity index-linked notes due June 7, 2011 based on the Merrill Lynch Commodity Index eXtra A 01 Total Return, according to an FWP filing with the Securities and Exchange Commission.
Merrill Lynch, Pierce, Fenner & Smith Inc. is the agent.
The coupon is Libor minus 27 basis points. It will be reset quarterly and payable at maturity.
The payout at maturity will be par plus triple the sum of the index return minus the Treasury bill yield minus a fee of 0.4% per year. The T-bill yield will be the sum of the 91-day weekly auction high rate for U.S. Treasury bills for each day during the life of the notes.
The notes are putable at any time if requested by all holders, and the notes will be called if the index closes at 15% or more below its initial level. In each case, the payout will be calculated in the same way as at maturity.
Issuer: | AB Svensk Exportkredit
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Issue: | Commodity index-linked notes
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Underlying index: | Merrill Lynch Commodity Index eXtra A 01 Total Return
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Amount: | $7.5 million
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Maturity: | June 7, 2011
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Coupon: | Libor minus 27 bps, reset quarterly and payable at maturity
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Price: | Par
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Payout at maturity: | Par plus 300% of sum of index return minus the T-bill yield less fee of 0.4% per year
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Put option: | At any time if requested by all holders; payout calculated in same way as at maturity
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Call: | Automatically if index closes at 85% of its initial level or below; payout calculated in same way as at maturity
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Pricing date: | April 30
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Settlement date: | May 7
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Agent: | Merrill Lynch, Pierce, Fenner & Smith Inc.
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Cusip: | 00254EJW3
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