Published on 2/3/2015 in the Prospect News Structured Products Daily.
New Issue: BofA Merrill Lynch prices $4.03 million more Elements linked to Rogers Energy for Svensk
By Angela McDaniels
Tacoma, Wash., Feb. 3 AB Svensk Exportkredit priced $4.03 million of additional 0% Elements due Oct. 24, 2022 linked to the Rogers International Commodity Index Energy Total Return via BofA Merrill Lynch, according to a 424B3 filing with the Securities and Exchange Commission.
The $11.5 million principal amount of additional notes were sold at prices ranging from 34.404 to 36.283 for $4,031,801 of overall proceeds.
In total, the company has priced $240.65 million principal amount of the notes at prices ranging from 34.404 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: | $240.65 million, increased from $4 million
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Maturity: | Oct. 24, 2022
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Coupon: | 0%
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Prices: | Par for original $4 million; in latest add-ons, 34.404% for $5.5 million, 34.949 for $2.6 million, 36.178 for $2.5 million and 36.283 for $900,000
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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; in latest add-ons, Jan. 13 for $900,000, Jan. 15 for $2.5 million, Jan. 20 for $5.5 million, Jan. 22 for $1.1 million and Feb. 2 for $1.5 million
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Underwriters: | Nuveen Investments, LLC and BofA Merrill Lynch
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Listing: | NYSE Arca: RJN
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Cusip: | 870297306
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