Obligation Svenska Exportkredit 0% ( XS0926023036 ) en USD

Svenska Exportkredit

100 % ⇌

Suede

XS0926023036 ( en USD )

29/04/2016 - Obligation échue

Prospectus brochure de l'obligation Swedish Export Credit (SEK) XS0926023036 en USD 0%, échue

200 000 USD

800 000 000 USD

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.

L'Obligation émise par Svenska Exportkredit ( Suede ) , en USD, avec le code ISIN XS0926023036, paye un coupon de 0% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 29/04/2016

EXECUTION VERSION
FINAL TERMS
Final Terms dated 7 March 2014
Series No.: 5358
Tranche No.: 3
AB Svensk Exportkredit
(Swedish Export Credit Corporation)
(Incorporated in the Kingdom of Sweden with limited liability)
("SEK" or the "Issuer")
Unlimited Programme for the Continuous Issuance of Debt Instruments
Issue of a Series of
USD 200,000,000 Floating Rate Instruments due 29 April 2016 (the
"Instruments")
(to be consolidated, become fungible and form a single Series with the USD
300,000,000 Floating Rate Instruments due 29 April 2016 issued on 30 April 2013
and the USD 300,000,000 Floating Rate Instruments due 29 April 2016 issued on
29 July 2013 (the "Original Instruments"))
The Base Prospectus referred to below (as completed by these Final Terms) has been
prepared on the basis that any offer of Instruments in any Member State of the European
Economic Area which has implemented the Prospectus Directive (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 in that Relevant Member State of the Instruments may only do so 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.
Neither SEK nor any Dealer has authorised, nor do they authorise, the making of any
offer of Instruments in any other circumstances.
The expression "Prospectus Directive" means Directive 2003/71/EC (and amendments
thereto, including the 2010 PD Amending Directive and the expression "2010 PD
Amending Directive" means Directive 2010/73/EU provided, however, that all
references in this document to the "Prospectus Directive" in relation to any Member
State of the European Economic Area refer to Directive 2003/71/EC (and amendments
thereto, including the 2010 PD Amending Directive, to the extent implemented in the
relevant Member State), and include any relevant implementing measure in the relevant
Member State.
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 (the "Conditions") set forth in the base prospectus dated 4 April 2013 which
constitute a base prospectus (the "Base Prospectus") for the purposes of 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 the Base Prospectus.
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EXECUTION VERSION
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. However, a
summary of the issue of the Instruments is annexed to these Final Terms. These Final
Terms and 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.
(i)
Series Number:
5358

(ii)
Tranche Number:
3

(iii)
Date on which the
The Instruments shall be consolidated,
Instruments become
form
a
single
series
and
be
fungible:
interchangeable for trading purposes with
the USD 300,000,000 Floating Rate
Instruments due 29 April 2016 issued on
30 April 2013 and the USD 300,000,000
Floating Rate Instruments due 29 April
2016 issued on 29 July 2013 on the Issue
Date.
2.
Specified Currency or Currencies: United States Dollars ("USD")
3.
Aggregate Nominal Amount of

Instruments admitted to trading:

(i)
Series:
USD 800,000,000

(ii)
Tranche:
USD 200,000,000
4.
Issue Price:
100.266 per cent. of the Aggregate
Nominal Amount plus 41 days' accrued
interest in respect of the period from and
including the Interest Commencement
Date to but excluding the Issue Date of an
amount of USD87,945.00
5.
(i)
Specified Denominations:
USD 200,000 and integral multiples of
USD 1,000 in excess thereof up to and
including USD 200,000. No Instruments
in definitive form will be issued with a
Specified Denomination above USD
399,000

(ii)
Calculation Amount:
USD 1,000
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EXECUTION VERSION
6.
(i)
Issue Date:
11 March 2014

(ii)
Interest Commencement
29 January 2014
Date:
7.
Maturity Date:
29 April 2016
8.
Interest Basis:
3-month USD LIBOR + 0.150 per cent.
Floating Rate

(further particulars specified below)
9.
Redemption/Payment Basis:
Subject to any purchase and cancellation
or early redemption, the Instruments will
be redeemed on the Maturity Date at par
10.
Change of Interest or
Not Applicable
Redemption/Payment Basis:
11.
Put/Call Options:
Not Applicable
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
12.
Fixed Rate Instrument Provisions
Not Applicable
13.
Floating Rate Instrument
Applicable
Provisions

(i)
Specified Period:
Not Applicable

(ii)
Specified Interest Payment Interest shall be payable quarterly in arrear
Dates:
on 29 January, 29 April, 29 July and 29
October in each year commencing on 29
April 2014, up to and including the
Maturity Date.

(iii)
First Interest Payment
29 April 2014
Date:

(iv)
Business Day Convention:
Modified
Following
Business
Day
Convention

(v)
Manner in which the
Screen Rate Determination
Interest Rate(s) is/are to be
determined:

(vi)
Party responsible for
Deutsche Bank AG, London Branch of
calculating the Interest
Winchester House, 1 Great Winchester
Rate(s) and Interest
Street, London, EC2N 2DB or its
Amount(s) (including
authorised
successor
shall
be
the
amount payable upon a
Calculation Agent.
Currency Disruption
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EXECUTION VERSION
Event):

(vii)
Screen Rate

Determination:

·
Reference Rate:
3-month USD LIBOR

·
Relevant
Screen Reuters Screen, LIBOR01
Page:

·
Interest
2 London business days prior to the
Determination
Interest Payment Date of the previous
Date(s):
Interest Period

·
Relevant Time:
11.00 a.m. London time

(viii) ISDA Determination:
Not Applicable

(ix)
Margin(s):
+ 0.150 per cent. per annum

(x)
Minimum Interest Rate:
Not Applicable

(xi)
Maximum Interest Rate:
Not Applicable

(xii) Day Count Fraction:
Actual/360
14.
Zero Coupon Instrument
Not Applicable
Provisions
15.
Index-Linked Instrument
Not Applicable
Provisions
PROVISIONS RELATING TO REDEMPTION
16.
Call Option
Not Applicable
17.
Put Option
Not Applicable
18.
Final Redemption Amount
Par
19.
(i)
Early Termination Amount Par
per Calculation Amount
payable on an early
redemption (other than for
taxation or illegality
reasons) or event of
default:

(ii)
Redemption Amount per
Market Value Redemption Amount. For
Calculation Amount
the purposes hereof, the references to
payable on redemption for
"together with interest accrued (if any) to
taxation reasons:
(but excluding, or in the case of the
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EXECUTION VERSION
Scandinavian Instruments, and including)
the date fixed for redemption" shall be
deemed to be deleted from Condition 11.2

Notice period (if other than Not less than 30 nor more than 60 days
as
set
out
in
the
Conditions):

(iii)
Early Redemption for
Applicable
Illegality:

Redemption Amount per Market Value Redemption Amount. For
Calculation
Amount the purposes hereof, the references to
payable on redemption for "together with interest accrued (if any) to
illegality reasons:
but excluding, or in the case of the
Scandinavian Instruments, and including)
the date fixed for redemption" shall be
deemed to be deleted from Condition 11.9

Notice period (if other than Not less than 30 nor more than 60 days
as
set
out
in
the
Conditions):
(iv)
Early Redemption (Index
Not Applicable
Adjustment Event):
20.
Mandatory Early Redemption
Not Applicable
GENERAL PROVISIONS APPLICABLE TO THE INSTRUMENTS
21.
Business Centre:

(i)
Payments:
London and New York Condition 14A.8
shall be amended to provide for a Payment
Date to be adjusted in accordance with the
Modified
Following
Business
Day
Convention.

(ii)
Interest Determination:
London and New York

(iii)
Notices:
London and New York
22.
Form of Instruments:
International Registered Instruments
23.
New Global Instruments/Classic
CGI
Global Instruments:
24.
Talons for future Coupons to be No
attached to Definitive Instruments
(and dates on which such Talons
mature):
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EXECUTION VERSION
PART B OTHER INFORMATION
1.
LISTING AND ADMISSION
TO TRADING

(i) Listing:
Luxembourg

(i)
Admission to trading:
Application has been made for the
Instruments to be admitted to trading on
the regulated market of the Luxembourg
Stock Exchange for the purposes of the
Prospectus Directive with effect from the
Issue Date

The Original Instruments have been
admitted to trading on the regulated
market
of
the Luxembourg Stock
Exchange.

(ii)
Estimate of total expenses EUR 400 (Admission Fees)
related to admission to
trading:
2.
RATINGS

The Issuer's long-term debt has been rated:
Standard & Poor's Credit Market Services Limited: AA+
Moody's Investors Service Ltd: Aa1
Both Standard & Poor's Credit Market Services Limited and Moody's Investors
Services Ltd are established in the European Economic Area (the "EEA") and
registered under Regulation (EC) No. 1060/2009, as amended (the "CRA
Regulation"), and are included in the list of credit rating agencies published by
the European Securities and Markets Authority on its website
(www.esma.europa.eu/page/list-registered-and-certified-CRAs) in accordance
with the CRA Regulation.
3.
INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN
THE ISSUE

"Save as discussed in "Plan of Distribution", so far as SEK is aware, no person
involved in the offer of the Instruments has an interest material to the offer."
4.
REASONS FOR THE OFFER, ESTIMATED NET PROCEEDS AND
TOTAL EXPENSES

(i)
Reasons for the offer:
The net proceeds of the issue of these
Instruments under the Programme will be
used by SEK in its ordinary course of
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EXECUTION VERSION
business

(ii)
Estimated net proceeds:
USD 200,619,945.00

OPERATIONAL INFORMATION
5.
ISIN:
XS0926023036
6.
Common Code:
092602303
7.
CUSIP:
Not Applicable
8.
New Global Instrument intended No
to be held in a manner which
would
allow
Eurosystem
eligibility:
9.
Any clearing system(s) other than Not Applicable
Euroclear
Bank
SA/NV,
Clearstream
Banking,
société
anonyme, Luxembourg and The
Depository Trust Company and
the
relevant
identification
number(s):
10.
Delivery:
Delivery against payment
11.
Names and addresses of additional Not Applicable
Paying Agent(s) (if any):

DISTRIBUTION

12.
Method of Distribution:
Syndicated
13.
(i)
If syndicated, names of Merrill Lynch International
Managers:
Morgan Stanley & Co. International plc

(ii)
Date
of
Subscription 7 March 2014
Agreement:
14.
If non-syndicated, name of Dealer: Not Applicable
15.
Total commission and concession: Not Applicable
16.
TEFRA:
Not Applicable
17.
Name and address of the entities Not Applicable
which have a firm commitment to
act as intermediaries in secondary
trading:
18.
Non-exempt Offer:
Not Applicable
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EXECUTION VERSION
19.
Secondary (uridashi) offerings of No
the Instruments is to be made in
Japan:

TERMS AND CONDITIONS OF THE OFFER
20.
Offer Period:
Not Applicable
21.
Offer Price:
Not Applicable
22.
Conditions to which the offer is Not Applicable
subject:
23.
Description of the application Not Applicable
process:
24.
Description
of
possibility
to Not Applicable
reduce subscriptions and manner
for refunding excess amount paid
by applicants:
25.
Details of the minimum and/or Not Applicable
maximum amount of application:
26.
Details of the method and time Not Applicable
limits for paying up and delivering
the Instruments:
27.
Manner and date in which results Not Applicable
of the offer are to be made public:
28.
Procedure for exercise of any right Not Applicable
of pre-emption, negotiability of
subscription rights and treatment
of
subscription
rights
not
exercised:
29.
Whether tranche(s) have been Not Applicable
reserved for certain countries:
30.
Process
for
notification
to Not Applicable
applicants of the amount allotted
and the indication whether dealing
may begin before notification is
made:
31.
Amount of any expenses and taxes Not Applicable
specifically
charged
to
the
subscriber or purchaser:
32.
Name(s) and address(es), to the None
extent known to SEK, of the
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EXECUTION VERSION
placers in the various countries
where the offer takes place:

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