New Issue: Goldman Sachs prices $4.47 million 0% notes tied to S&P 500 for Svensk

By Angela McDaniels

Tacoma, Wash., April 5 - AB Svensk Exportkredit priced $4.47 million of 0% equity index-linked notes due April 8, 2013 linked to the S&P 500 index via Goldman Sachs & Co., according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.5 times the index return if the return is positive, subject to a maximum payout of $1,165 per $1,000 principal amount of notes. Investors will receive par if the index declines by 10% or less and will lose 1.1111% for every 1% that it declines beyond 10%.

The initial index level set by the issuer, 1,330.95, is lower than the actual closing level of the index on the pricing date, which was 1,332.41.

Issuer:	AB Svensk Exportkredit
Issue:	Equity index-linked notes
Underlying index:	S&P 500
Amount:	$4,466,000
Maturity:	April 8, 2013
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 150% of any index gain, capped at 16.5%; par if index falls by 10% or less; 1.1111% loss for every 1% index declines beyond 10%
Initial index level:	1,330.95
Pricing date:	April 1
Settlement date:	April 8
Underwriter:	Goldman Sachs & Co.
Fees:	0.25%
Cusip:	01019A708

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