By Marisa Wong
Los Angeles, Sept. 21 – AB Svensk Exportkredit sold an additional $1,087,955 of 0% Elements due Oct. 24, 2022 linked to the Rogers International Commodity Index – Agriculture Total Return via BofA Merrill Lynch, according to a 424B3 filing with the Securities and Exchange Commission.
The $2.1 million principal amount of additional notes priced in three tranches for total proceeds of $1,087,955. Two $500,000 tranches priced at 50.897 for proceeds of $254,485 each, and a $1.1 million tranche priced at 52.635 for proceeds of $578,985.
The add-on notes settled between May 7 and Sept. 3, according to the 424B3 filing.
The original $4 million of the notes priced at par of $10 on Oct. 17, 2007. Additional securities have been sold since the inception date at variable pries.
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 “RJA.”
| Issuer: | AB Svensk Exportkredit
|
| Issue: | Elements
|
| Underlying index: | Rogers International Commodity Index – Agriculture Total Return
|
| Initial amount: | $4 million
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| Proceeds: | $1,087,955 for latest $2.1 million principal amount of add-ons
|
| Maturity: | Oct. 24, 2022
|
| Coupon: | 0%
|
| Price: | Par of $10 for original $4 million; 50.897 for $500,000, 50.897 for $500,000 and 52.635 for $1.1 million in latest add-ons
|
| Payout at maturity: | Par plus index return minus annual investor fee of 0.75%
|
| Put option: | On weekly repurchase dates subject to minimum of $5 million
|
| Initial index level: | 1,236.05
|
| Inception date: | Oct. 17, 2007 for original $4 million
|
| Settlement dates: | Oct. 24, 2007 for original $4 million; Aug. 10 for $500,000, Aug. 10 for $500,000 and Aug. 27 for $1.1 million in latest add-ons
|
| Underwriter: | BofA Merrill Lynch
|
| Listing: | NYSE Arca: RJA
|
| Cusip: | 870297603
|
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