Merrill plans Accelerated Return Notes on PHLX Oil Service for Svensk

By Jennifer Chiou

New York, May 2 - AB Svensk Exportkredit plans to price 0% capped Accelerated Return Notes due July 2012 linked to the PHLX Oil Service Sector index via Merrill Lynch, according to an FWP with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus triple any gain in the index, subject to a maximum payment of 20% to 24%.

Investors will be fully exposed to any decline in the index.

The notes are expected to price in May and settle in June.

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