Published on 4/30/2010 in the Prospect News Structured Products Daily.
New Issue: Wells prices $6.74 million 14.25% enhanced yield notes on Research in Motion for Svensk
By Marisa Wong
Milwaukee, April 30 - AB Svensk EksportKredit priced $6.74 million of 14.25% annualized enhanced yield securities due Nov. 10, 2010 linked to the common stock of Research in Motion Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Wells Fargo Securities, LLC is the underwriter.
Interest is payable monthly.
The payout at maturity will be par unless Research in Motion stock falls by 20% or more during the life of the notes and finishes below the initial share price, in which case investors will receive a number of Research in Motion shares equal to $1,000 divided by the initial share price.
Issuer: | AB Svensk Exportkredit
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Issue: | Enhanced yield securities
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Underlying stock: | Research in Motion Ltd. (NYSE: RIMM)
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Amount: | $6,741,000
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Maturity: | Nov. 10, 2010
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Coupon: | 14.25%, payable monthly
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Price: | Par
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Payout at maturity: | If Research in Motion stock falls to or below knock-in price of $57.672 during life of the notes and finishes below initial price, 13.8715 Research in Motion shares; otherwise, par
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Initial share price: | $72.09
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Knock-in price: | $57.672, 80% of initial price
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Pricing date: | April 29
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Settlement date: | May 6
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Underwriter: | Wells Fargo Securities, LLC
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Fees: | 1.25%
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Cusip: | 870297BP2
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