Published on 5/4/2011 in the Prospect News Structured Products Daily.
New Issue: Nuveen, Merrill Lynch sell $11 million more Elements linked to Rogers Energy for Svensk
By Angela McDaniels
Tacoma, Wash., May 4 - AB Svensk Exportkredit issued an additional $11 million of 0% Elements due Oct. 24, 2022 linked to the Rogers International Commodity Index - Energy Total Return via Nuveen Investments, LLC and Merrill Lynch, Pierce, Fenner & Smith Inc., according to a 424B3 filing with the Securities and Exchange Commission.
The notes settled in eight tranches. The issuer settled $2 million at 69.69 on March 2, $1 million at 70.288 on March 3, $2 million at 72.706 on March 14, $2 million at 71.702 on March 17, $1 million at 73.551 on March 28, $1 million at 73.884 on March 29, $1 million at 73.883 on March 31 and $1 million at 73.286 on April 4.
In total, the company has priced $159.5 million of the notes in 56 tranches at prices ranging from 43.927 to 169.365. The original $4 million of notes priced at par of $10 on Oct. 17, 2007.
The payout at maturity will be par plus the index return, which could be positive or negative, less an annual investor fee of 0.75%.
The notes are putable on weekly repurchase dates, subject to a minimum of $5 million of notes.
The notes are listed on NYSE Arca under the symbol "RJN."
| Issuer: | AB Svensk Exportkredit
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| Issue: | Elements
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| Underlying index: | Rogers International Commodity Index - Energy Total Return
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| Amount: | $159.5 million, increased from $4 million
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| Maturity: | Oct. 24, 2022
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| Coupon: | 0%
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| Price: | Par for original $4 million; latest add-ons: 69.69 for $2 million, 70.288 for $1 million, 72.706 for $2 million, 71.702 for $2 million, 73.551 for $1 million, 73.884 for $1 million, 73.883 for $1 million, 73.286 for $1 million
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| Payout at maturity: | Par plus the index return less an investor fee of 0.75%
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| Put option: | On weekly repurchase dates subject to minimum of $5 million
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| Initial index level: | 1,166.22
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| Inception date: | Oct. 17, 2007 for original $4 million
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| Settlement dates: | Oct. 23, 2007 for original $4 million; latest add-ons: March 2 for $2 million, March 3 for $1 million, March 14 for $2 million, March 17 for $2 million, March 28 for $1 million, March 29 for $1 million, March 31 for $1 million, April 4 for $1 million
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| Underwriters: | Nuveen Investments, LLC and Merrill Lynch, Pierce, Fenner & Smith Inc.
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| Listing: | NYSE Arca: RJN
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| Cusip: | 870297306
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