Merrill plans Accelerated Return Notes on PHLX Oil Sector for Svensk

By Jennifer Chiou

New York, Aug. 25 - AB Svensk Exportkredit plans to price 0% Accelerated Return Notes due November 2011 linked to the PHLX Oil Service Sector index, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus triple any gain in the index, up to maximum of $12.40 to $12.80 per note. The exact cap will be set at pricing.

Investors will be exposed to any losses.

The notes are expected to price and settle in September.

Merrill Lynch, Pierce, Fenner & Smith Inc. is the agent.

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