By E. Janene Geiss
Philadelphia, Sept. 26 - Merrill Lynch & Co., Inc. priced six separate $10 million issues of notes due Oct. 30, 2009 linked to the Dow Jones - AIG Commodity Index Total Return for issuer AB Svensk Exportkredit, according to FWP filings with the Securities and Exchange Commission.
Interest on each issue is Libor minus 30 basis points and will be payable quarterly.
At maturity, investors will receive triple the positive or negative return on the index, less fees and an amount based on the 91-day Treasury bill yield.
The notes will be called if on any business day the index closes at 10% or more below its initial level. If the index declines by 10% or more intraday, then the calculation agent may, at its option, call the notes. In both cases, the payout calculation will be the same as that to be used at maturity.
Holders can put the notes back at any time and receive a payout calculated in the same way as that at maturity.
Apart from the Cusip numbers, the terms on the deals are identical.
| Issuer: | AB Svensk Exportkredit
|
| Issue: | Six separate issues of exchangeable index-linked notes
|
| Underlying index: | Dow Jones - AIG Commodity Index Total Return
|
| Amount: | $10 million for each issue, total $60 million in six issues
|
| Maturity: | Oct. 30, 2009
|
| Coupon: | Libor minus 30 basis points, payable quarterly
|
| Price: | Par of $100,000
|
| Payout at maturity: | Par plus triple the positive or negative return on the index, less fees and less the 91-day Treasury bill yield
|
| Call: | Automatic if index hits 90% of the initial level
|
| Initial index level: | 358.755
|
| Underwriter: | Merrill Lynch & Co., Inc.
|
| Pricing date: | Sept. 25
|
| Settlement date: | Oct. 17
|
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