By Marisa Wong
Madison, Wis., Aug. 24 - AB Svensk Exportkredit priced $10 million of exchangeable commodity index-linked notes due Oct. 3, 2011 based on the performance of the Dow Jones-UBS Index - Total Return, according to an FWP filing with the Securities and Exchange Commission.
Morgan Stanley & Co. Inc. is the agent.
The coupon is three-month Libor minus 27 basis points, payable quarterly.
The payout at maturity will be par of $10,000 plus triple the difference of the index return minus the Treasury bill yield minus a fee of 0.17% per year.
The notes are putable at any time, and the notes will be called if the index closes at 85% of its initial level or less.
Issuer: | AB Svensk Exportkredit
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Issue: | Exchangeable commodity index-linked notes
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Underlying index: | Dow Jones-UBS Index - Total Return
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Amount: | $10 million
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Maturity: | Oct. 3, 2011
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Coupon: | Libor minus 27 bps, payable quarterly
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Price: | Par of $10,000
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Payout at maturity: | Par plus 300% of the difference of the index return minus the T-bill yield minus a fee of 0.17% per year
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Put option: | Yes; redemption price calculated in same way as payout at maturity
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Call: | If index closes at or below 85% of its initial level; payout calculated in same way as at maturity
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Initial index level: | 259.7449
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Pricing date: | Aug. 24
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Settlement date: | Aug. 31
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Underwriter: | Morgan Stanley & Co. Inc.
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Cusip: | 00254EKK7
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