Published on 10/3/2014 in the Prospect News Structured Products Daily.
New Issue: Merrill Lynch prices $697,423 more Elements linked to Rogers Metals for Svensk
By Susanna Moon
Chicago, Oct. 3 – AB Svensk Exportkredit priced another $697,423 of 0% Elements due Oct. 24, 2022 linked to the Rogers International Commodity Index - Metals Total Return via Bank of America Merrill Lynch, according to a 424B3 filing with the Securities and Exchange Commission.
The $800,000 principal amount of add-ons priced in two tranches with $500,000 at 87.725 for proceeds of $438,625 and $300,000 at 86.266 for proceeds of $258,798.
In total, the company has sold $123.1 million of the notes. 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 "RJZ."
| Issuer: | AB Svensk Exportkredit
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| Issue: | Elements
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| Underlying index: | Rogers International Commodity Index - Metals Total Return
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| Amount: | $123.1 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; 87.725 for $500,000, 86.266 for $300,000
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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: | 2,317.83
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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; Sept. 19 for $500,000, Sept. 30 for $300,000
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| Underwriters: | Nuveen Investments, LLC and Bank of America Merrill Lynch
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| Listing: | NYSE Arca: RJZ
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| Cusip: | 870297405
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