Obligation Svenska Exportkredit 2.375% ( XS0788152725 ) en CNY

Svenska Exportkredit

100 % ⇌

Suede

XS0788152725 ( en CNY )

2.375% par an ( paiement annuel )

01/06/2015 - Obligation échue

Prospectus brochure de l'obligation Swedish Export Credit (SEK) XS0788152725 en CNY 2.375%, échue

10 000 CNY

650 000 000 CNY

Swedish Export Credit (SEK) est une agence gouvernementale suédoise qui fournit des assurances-crédit, des garanties et des prêts aux exportateurs suédois pour soutenir leurs ventes à l'international.

Cet aperçu financier concerne une obligation émise sous le code ISIN XS0788152725 par Swedish Export Credit (SEK), une institution financière suédoise de premier plan entièrement détenue par l'État, dont la mission est de promouvoir et de financer les exportations du pays, conférant ainsi à ses émissions une forte crédibilité sur les marchés internationaux. Cette série obligataire, originaire de Suède, était libellée en Yuan chinois (CNY) et présentait un taux d'intérêt fixe de 2,375% par an, avec une fréquence de paiement annuelle unique. Le volume total de cette émission s'élevait à 650 000 000 CNY, tandis que la taille minimale d'achat pour les investisseurs était fixée à 10 000 CNY, son prix sur le marché se situant à 100% de sa valeur nominale. Arrivée à maturité le 1er juin 2015, cette obligation a été intégralement remboursée à ses détenteurs, clôturant ainsi son cycle financier.

Final Version
Final Terms dated 15 June 2012
Series No.: 5205
Tranche No.: 2
AB Svensk Exportkredit
(Swedish Export Credit Corporation) ("SEK")
(Incorporated in the Kingdom of Sweden with limited liability)
Unlimited Programme for the Continuous Issuance of Debt Instruments
Issue of
CNY 150,000,000 2.375 per cent. Fixed Rate Instruments due 1 June 2015
(the "Instruments")

(to be consolidated and become fungible and form a single series with the CNY 500,000,000
2.375 per cent. Fixed Rate Instruments due
1 June 2015 issued on 1 June 2012 (the "Original Instruments")

The Base Prospectus referred to below (as completed by these Final Terms) has been
prepared on the basis that, except as provided in sub-paragraph (ii) below, any offer of
Instruments in any Member State of the European Economic Area which has implemented
the Prospectus Directive (2003/71/EC) as amended (each, a "Relevant Member State") will
be made pursuant to an exemption under the Prospectus Directive, as implemented in that
Relevant Member State, from the requirement to publish a prospectus for offers of the
Instruments. Accordingly any person making or intending to make an offer of the Instruments
may only do so:
(i)
in circumstances in which no obligation arises for SEK or any Dealer to publish a
prospectus pursuant to Article 3 of the Prospectus Directive or supplement a
prospectus pursuant to Article 16 of the Prospectus Directive, in each case, in relation
to such offer; or
(ii)
in those Public Offer Jurisdictions mentioned in Paragraph 40 of Part A below,
provided such person is one of the persons mentioned in Paragraph 40 of Part A
below and that such offer is made during the Offer Period specified for such purpose
therein.
Neither SEK nor any Dealer has authorised, nor do they authorise, the making of any offer of
Instruments in any other circumstances.
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PART A CONTRACTUAL TERMS
This document constitutes the Final Terms relating to the issue of Instruments described
herein. Terms used herein shall be deemed to be defined as such for the purposes of the
Conditions set forth in the base prospectus dated 4 April 2012 (the "Base Prospectus") which
constitutes a base prospectus for the purposes of the Prospectus Directive as amended
(Directive 2003/71/EC) (the "Prospectus Directive"). This document constitutes the Final
Terms of the Instruments described herein for the purposes of Article 5.4 of the Prospectus
Directive and must be read in conjunction with such Base Prospectus.
Full information on SEK and the Instruments described herein is only available on the basis
of a combination of these Final Terms and the Base Prospectus. These Final Terms, the Base
Prospectus are available for viewing at the website of the regulated market of the
Luxembourg Stock Exchange (www.bourse.lu) for the purposes of the Prospectus Directive
and copies may be obtained from SEK at Klarabergsviadukten 61-63, P.O. Box 194, SE-101
23 Stockholm and the Paying Agents, Deutsche Bank Luxembourg S.A. at 2 Boulevard
Konrad Adenauer, L-1115 Luxembourg, Deutsche International Corporate Services (Ireland)
Limited at 5 Harbourmaster Place, International Financial Services Centre, Dublin 1, Ireland
and Deutsche Bank AG, London Branch at Winchester House, 1 Great Winchester Street,
London EC2N 2DB.
1.
Issuer:
AB Svensk Exportkredit
2.
(i)
Series Number:
5205

(ii)
Tranche Number:
2
On the Issue Date, the Instruments will
be consolidated, become fungible with
and form a single Series with the
Original Instruments.
3.
Specified Currency or Currencies:
Chinese Renminbi ("CNY"), as from
time to time being the lawful currency
of the People's Republic of China
4.
Aggregate Nominal Amount:

(i)
Series:
CNY 650,000,000

(ii)
Tranche:
CNY 150,000,000
5.
Issue Price:
101.814 per cent. of the Aggregate
Nominal Amount plus 18 days' accrued
interest in respect of the period from
(and
including)
the
Interest
Commencement Date to (but excluding)
the Issue Date.
6.
Specified Denominations:

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(i)
Specified Denomination:
CNY 10,000

(ii)
Calculation Amount:
CNY 10,000
7.
(i)
Issue Date:
19 June 2012

(ii)
Interest Commencement Date:
1 June 2012
8.
Maturity Date:
1 June 2015
9.
Interest Basis:
2.375 per cent. Fixed Rate
(further particulars specified below)
10. Redemption/Payment Basis:
Redemption at par
(further particulars specified below)
11. Change of Interest or Redemption/
Not Applicable
Payment Basis:
12. Put/Call Options:
Not Applicable
13. Status of the Instruments:
Senior
14. Method of Distribution:
Syndicated
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
15. Fixed Rate Instrument Provisions
Applicable

(i)
Fixed Coupon Amount:
Not Applicable

(ii)
Interest Rate:
2.375 per cent. per annum

(iii) Interest Payment Dates:
1 June and 1 December in each year,
from and including 1 December 2012 up
to and including the Maturity Date

(iv) Day Count Fraction:
Actual/365 (Fixed)

(v)
Broken Amount(s):
Not Applicable

(vi) Other terms relating to the method For the purposes of determining the
of calculating interest for Fixed
Calculation Period for the Day Count
Rate Instruments:
Fraction referred to in item 15(iv)
above, the Modified Following Business
Day Convention applies.
16. Floating Rate Instrument Provisions
Not Applicable
17. Zero Coupon Instrument Provisions
Not Applicable
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18. Index-Linked Interest Instrument/other
Not Applicable
variable-linked Interest Instrument
Provisions
19. FX Rate-Linked Instrument Provisions
Not Applicable
PROVISIONS RELATING TO REDEMPTION
20. Call Option
Not Applicable
21. Put Option
Not Applicable
22. Final Redemption Amount
Par
23. (i)
Early Termination Amount per
Not Applicable
Calculation Amount (other than
Early Redemption Amount (Tax)
and Early Redemption Amount
(Illegality)) payable on an early
redemption (other than for taxation
or illegality reasons) or event of
default and/or the method of
calculating the same (if required or
if different from that set out in the
Conditions):

(ii)
Early Redemption Amount (Tax) CNY 10,000 per Calculation Amount
per Calculation Amount payable on
redemption for taxation reasons,
and/or the method of calculating
the same (if required or if different
from that set out in the Conditions):

(iii) Early Redemption for Illegality:
Not Applicable
24. Mandatory Early Redemption
Not Applicable

25. Target Mandatory Early Redemption
Not Applicable

GENERAL PROVISIONS APPLICABLE TO THE INSTRUMENTS
26. Business Days:

(i)
Payments:
London, New York, Hong Kong

(ii)
Interest Determination:
Not Applicable

(iii) Notices:
London, New York, Hong Kong
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27. Form of Instruments:
Bearer Instruments:

Temporary
Global
Instrument
exchangeable for a Permanent Global
Instrument which is exchangeable for
Definitive Instruments in the limited
circumstances
specified
in
the
Permanent Global Instrument.
28. New Global Instruments/Classic Global CGI
Instruments:
29. Talons for future Coupons or Receipts to No
be attached to Definitive Instruments (and
dates on which such Talons mature):
30. Details relating to partly paid Instruments: Not Applicable
amount of each payment comprising the
Issue Price and date on which each
payment is to be made and consequences
(if any) of failure to pay, including any
right of SEK to forfeit the Instruments and
interest due on late payment:
31. Details relating to instalment Instruments: Not Applicable
amount of each instalment, date on which
each payment is to be made:
32. Consolidation provisions:
Not Applicable
33. Other terms or special conditions:
The Final Terms contain additional
disclosure
relating
to
investment
considerations
and
remittance
of
Chinese Renminbi into and outside the
People's Republic of China. See Annex
A.
In addition, the provisions set out in
Annex B shall be applicable to the
Instruments.
DISTRIBUTION
34. (i)
If syndicated, names and addresses Joint Lead Managers
of Managers and underwriting
commitments:
The Hongkong and Shanghai Banking
Corporation Limited
Level 17, HSBC Main Building
1 Queens Road Central
Hong Kong
CNY 75,000,000
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The Toronto-Dominion Bank
60 Threadneedle Street
London EC2R 8AP
United Kingdom
CNY 75,000,000

(ii)
Date of Subscription Agreement:
15 June 2012

(iii) Stabilising Manager(s) (if any):
Not Applicable
35. If non-syndicated, name and the address Not Applicable
of Dealer:
36. Total commission and concession:
1.275 per cent. of the Aggregate
Nominal Amount payable by SEK
37. Additional selling restrictions:
Hong Kong
Each
Joint
Lead
Manager
has
represented and agreed that:
(i) it has not offered or sold and will
not offer or sell in Hong Kong,
by means of any document, the
Instruments other than (a) to
"professional
investors"
as
defined in the Securities and
Futures Ordinance (Cap. 571) of
Hong Kong and any rules made
under that Ordinance; or (b) in
other circumstances which do
not result in the document being
a "prospectus" as defined in the
Companies Ordinance (Cap. 32)
of Hong Kong or which do not
constitute an offer to the public
within the meaning of that
Ordinance; and
(ii) it has not issued or had in its
possession for the purposes of
issue, and will not issue or have
in its possession for the purposes
of issue, whether in Hong Kong
or elsewhere, any advertisement,
invitation or document relating
to the Instruments, which is
directed at, or the contents of
which are likely to be accessed
or read by, the public of Hong
Kong (except if permitted to do
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so under the securities laws of
Hong Kong) other than with
respect to Instruments which are
or are intended to be disposed of
only to persons outside Hong
Kong or only to "professional
investors" as defined in the
Securities and Futures Ordinance
and any rules made under that
Ordinance.
Singapore
Each
Joint
Lead
Manager
has
acknowledged that the Base Prospectus
has not been registered as a prospectus
with the Monetary Authority of
Singapore (the MAS) under the
Securities and Futures Act, Cap. 289 of
Singapore (the "SFA"). Accordingly,
each
Joint
Lead
Manager
has
represented and agreed that it has not
offered or sold the Instruments or
caused the Instruments to be made the
subject of an invitation for subscription
or purchase and will not offer or sell the
Instruments or cause the Instruments to
be made the subject of an invitation for
subscription or purchase, and has not
circulated or distributed, nor will it
circulate or distribute, the Base
Prospectus or any other document or
material in connection with the offer or
sale, or invitation for subscription or
purchase, of the Instruments, whether
directly or indirectly, to persons in
Singapore other than (a) to an
institutional investor (as defined in
Section 4A of the SFA) pursuant to
Section 274 of the SFA, (b) to a relevant
person (as defined in Section 275(2) of
the SFA) pursuant to Section 275(1) of
the SFA, or any person pursuant to an
offer referred to in Section 275(1A) of
the SFA, and in accordance with the
conditions specified in Section 275 of
the SFA or (c) otherwise pursuant to,
and in accordance with the conditions
of, any other applicable provision of the
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SFA.
Where the Instruments are acquired by
persons who are relevant persons
specified in Section 276 of the SFA,
namely:
a) a corporation (which is not an
accredited investor (as defined in
Section 4A of the SFA)) the sole
business of which is to hold
investments and the entire share
capital of which is owned by one
or more individuals, each of
whom is an accredited investor;
or
b) a trust (where the trustee is not
an accredited investor) whose
sole purpose is to hold
investments and each beneficiary
of the trust is an individual who
is an accredited investor,
the shares, debentures and units of
shares
and
debentures
of
that
corporation or the beneficiaries' rights
and interest (howsoever described) in
that trust shall not be transferred within
6 months after that corporation or that
trust has acquired the Instruments
pursuant to an offer made under Section
275 of the SFA except:
1) to an institutional investor (under
Section 274 of the SFA) or to a
relevant person as defined in
Section 275(2) of the SFA, or
any person pursuant to an offer
that is made on terms that such
shares, debentures and units of
shares and debentures of that
corporation or such rights or
interest in that trust are acquired
at a consideration of not less
than S$200,000 (or its equivalent
in a foreign currency) for each
transaction,
whether
such
amount is to be paid for in cash
or by exchange of securities or
other assets and further for
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corporations, in accordance with
the conditions specified in
Section 275(1A) of the SFA;
2) where no consideration is or will
be given for the transfer;
3) where the transfer is by
operation of law; or
4) as specified in Section 276(7) of
the SFA.
The People's Republic of China
("PRC")
Each
Joint
Lead
Manager
has
acknowledged that the Instruments, or
any information contained in the
Instruments have not been, and will not
be submitted, approved/verified or
registered under the relevant laws of the
PRC (for the purpose of the Instruments,
excluding Hong Kong, Macau and
Taiwan). Accordingly the Instruments
and the information contained in the
Instruments may not be offered or sold
directly or indirectly in the PRC and
may not be supplied to the public in the
PRC or used in connection with any
offer for subscription or sale of the
Instruments in the PRC directly or
indirectly. The Instruments may only be
offered or sold to the PRC investors that
are authorised to engage in the purchase
of the Instruments of the type being
offered or sold. PRC investors are
responsible for obtaining all relevant
government
regulatory
approvals
licenses,
verifications
and/or
registrations
from
all
relevant
governmental authorities (including but
not limited to the State Administration
of Foreign Exchange and/or the China
Securities Regulatory Commission), and
complying with all the applicable PRC
regulations, including but not limited to
any relevant PRC foreign exchange
regulations and/or foreign investment
regulations.
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Republic of China ("ROC")
Each
Joint
Lead
Manager
has
represented and agreed that (i) it has not
offered or sold and will not offer or sell,
directly or indirectly the Instruments in
the Republic of China and (ii) the
Instruments may only be made available
to ROC investors outside the ROC for
purchase outside the ROC. No person
or entity has been authorised to offer,
sell or give advice regarding or
otherwise intermediate the offering and
sale of the Instruments in the ROC.
38. TEFRA:
The D Rules are applicable.
39. Name and address of the entities which
Not Applicable
have a firm commitment to act as
intermediaries in secondary trading:
40. Non-exempt Offer:
An offer of Instruments may be made by
the Joint Lead Managers other than
pursuant to Article 3(2) of the
Prospectus
Directive
in
Austria,
Belgium, Denmark, Germany, Ireland,
Luxembourg, The Netherlands, Sweden
and the United Kingdom (Public Offer
Jurisdictions) during the period from
15 June 2012 until 1 July 2012 (Offer
Period), provided that the Offer Period
in Austria will not commence until the
day after the registration of these Final
Terms with the registration office
(Meldestelle) has been duly made as
required under the Austrian Capital
Markets Act. See further Paragraph 16
of Part B below.

PURPOSE OF FINAL TERMS
These Final Terms comprise the final terms required for the Instruments described herein to
be admitted to trading on the regulated market of the Luxembourg Stock Exchange for the
purposes of the Prospectus Directive pursuant to the Unlimited Programme for the
Continuous Issuance of Debt Instruments of AB Svensk Exportkredit.
RESPONSIBILITY
SEK accepts responsibility for the information contained in this Final Terms.
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