Published on 12/4/2013 in the Prospect News Structured Products Daily.
New Issue: Merrill Lynch prices $39.5 million more Elements on Rogers Commodity for Svensk
By Marisa Wong
Madison, Wis., Dec. 4 - AB Svensk Exportkredit priced an additional $39.5 million of 0% Elements due Oct. 24, 2022 linked to the Rogers International Commodity Index - Total Return via BofA Merrill Lynch, according to a 424B3 filing with the Securities and Exchange Commission.
The $39.5 million principal amount of additional notes priced in several tranches at prices ranging from 79.798 to 80.465 for $31,704,335 of proceeds.
In total, the company has priced $1.53 billion principal amount of the notes at prices ranging from 53.494 to 137.809. The original $4 million of the 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 "RJI."
Issuer: | AB Svensk Exportkredit
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Issue: | Elements
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Underlying index: | Rogers International Commodity Index - Total Return
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Amount: | $1,530,400,000, increased from $4 million
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Maturity: | Oct. 24, 2022
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Coupon: | 0%
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Price: | Par of $10 for original $4 million; in latest add-ons, 80.465 for $10 million, 80.465 for $14 million, 80.465 for $3.5 million, 79.798 for $2 million and 79.805 for $10 million
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Payout at maturity: | Par plus the index return less an annual 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: | 4,126.81
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Inception date: | Oct. 17, 2007 for original $4 million
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Settlement dates: | Oct. 24, 2007 for original $4 million; Nov. 7 for latest $10 million, $14 million and $3.5 million priced at 80.465, Nov. 12 for latest $2 million priced at 79.798 and Nov. 22 for latest $10 million priced at 79.805
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Underwriter: | BofA Merrill Lynch
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Listing: | NYSE Arca: RJI
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Cusip: | 870297801
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