Obligation AB SEK 0% ( XS1094803399 ) en EUR

AB SEK

100 % ⇌

Suede

XS1094803399 ( en EUR )

11/08/2016 - Obligation échue

Prospectus brochure de l'obligation AB Svensk Exportkredit XS1094803399 en EUR 0%, échue

100 000 EUR

500 000 000 EUR

AB Svensk Exportkredit est une agence de crédit à l'exportation suédoise publique qui soutient les exportateurs suédois et les investissements étrangers directs en offrant des financements, des garanties et des assurances.

L'Obligation émise par AB SEK ( Suede ) , en EUR, avec le code ISIN XS1094803399, paye un coupon de 0% par an.
Le paiement des coupons est trimestriel et la maturité de l'Obligation est le 11/08/2016

FINAL TERMS
Final Terms dated 1 September 2014
Series No.:
5761
Tranche No.:
2
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
EUR 250,000,000 Floating Rate Instruments due 12 August 2016
(the "Instruments")
(to be consolidated, become fungible and form a single Series with the EUR 250,000,000
Floating Rate Instruments due 12 August 2016 issued on 12 August 2014 (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 2014 which
constitutes 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.
Full information on SEK and the Instruments described herein is only available on the
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basis of a combination of these Final Terms and the Base Prospectus. 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:
5761
(ii)

Tranche
Number: 2

(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 Original Instruments on the Issue Date
2.
Specified Currency or Currencies:
Euro ("EUR")
3.
Aggregate Nominal Amount of

Instruments admitted to trading:
(i)
Series:
EUR
500,000,000
(ii)
Tranche:
EUR
250,000,000
4.
Issue Price:
100.01 per cent. of the Aggregate Nominal
Amount plus 22 days of accrued interest
from and including 12 August 2014 to but
excluding the Issue Date
5.
(i)
Specified Denominations:
EUR 100,000
(ii)
Calculation
Amount:
EUR
100,000
6.
(i)
Issue Date:
3 September 2014
(ii)
Interest
Commencement
12 August 2014
Date:
7.
Maturity Date:
Interest Payment Date falling on or nearest
to 12 August 2016
8.
Interest
Basis:
3-month EURIBOR + 0.01 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 100
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per cent. of their nominal amount
10.
Change of Interest or Redemption/
Not Applicable
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 12 February, 12 May, 12 August and
12 November in each year commencing on
12 November 2014, up to and including
the Maturity Date

(iii)
First Interest Payment Date: 12 November 2014

(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 Event):
(vii)
Screen
Rate
Determination:
Applicable

-- Reference Rate:
3 month EURIBOR

-- Relevant Screen Page:
Reuters EURIBOR01
--
Interest
Determination
2 TARGET days prior to the first day of
Date(s):
each relevant Interest Period

-- Relevant Time:
11.00 a.m. CET

(viii) ISDA Determination:
Not Applicable

(ix)
Margin(s):
+ 0.01 per cent. per annum
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(x)
Minimum Interest Rate:
Not Applicable

(xi)
Maximum Interest Rate:
Not Applicable

(xii) Day Count Fraction:
Actual/360
14.
Zero Coupon Instrument Provisions Not Applicable
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
Par
Calculation Amount payable
on redemption for taxation
reasons:

Notice period:
Not less than 30 nor more than 60 days

(iii)
Early Redemption for
Applicable
Illegality:

Redemption Amount per
Par
Calculation Amount payable
on redemption for illegality
reasons:

Notice period:
Not less than 3 nor more than 30 days

(iv)
Early Redemption (Index
Not Applicable
Adjustment Event):
20.
Mandatory Early Redemption
Not Applicable
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PART B OTHER INFORMATION
1.
LISTING AND ADMISSION TO TRADING
(i)
Listing:
Luxembourg

(ii)
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

(iii)
Estimate of total expenses
EUR 1,390
related to admission to
trading:
2.
RATINGS

The Instruments to be issued are expected to be rated:
Standard & Poor's Credit Market Services Europe Limited: AA+
Moody's Investors Service Ltd: Aa1
Both Standard & Poor's Credit Market Services Europe 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 is 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

Apart from the appointment of Merrill Lynch International and Nomura
International plc listed in paragraph 15 below, 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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business

(ii)
Estimated net proceeds:
EUR 250,057,541.67

(iii)
Estimated total expenses:
EUR 1,390 (listing expenses)
£17,000 (approximate legal expenses)
5.
YIELD
Not
Applicable
6.
HISTORIC INTEREST RATES
Not
Applicable
7.
DESCRIPTION AND PERFORMANCE OF INDEX/FORMULA/OTHER
VARIABLE AND OTHER INFORMATION CONCERNING THE
UNDERLYING
Not
Applicable

OPERATIONAL INFORMATION
8.
ISIN: XS1094803399
9.
Common Code:
109480339
10. CUSIP: Not
Applicable
11. New Global Instrument intended
Yes. Note that the designation "yes"
to be held in a manner which
means that the Instruments are intended
would allow Eurosystem
upon issue to be deposited with one of the
eligibility:
ICSDs as common safekeeper and does
not necessarily mean that the Instruments
will be recognised as eligible collateral for
Eurosystem monetary policy and intra-day
credit operations by the Eurosystem either
upon issue or at any or all times during
their life. Such recognition will depend
upon satisfaction of the Eurosystem
eligibility criteria.
12. Any clearing system(s) other than
Not Applicable
Euroclear Bank SA/NV,
Clearstream Banking, société
anonyme and The Depository
Trust Company and the relevant
identification number(s):
13. Delivery: Delivery
against
payment
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14. Names and addresses of additional Not Applicable
Paying Agent(s) (if any):

DISTRIBUTION

15. Method of Distribution:
Syndicated

If syndicated, names of Managers:
Joint Lead Managers:
Merrill Lynch International
Nomura International plc
16. If non-syndicated, name of Dealer: Not Applicable
17. Total commission and concession: Nil
18. TEFRA:
The D Rules are applicable
19. Name and address of the entities
Not Applicable
which have a firm commitment to
act as intermediaries in secondary
trading:
20. Stabilising Manager(s) (if any):
Not Applicable
21. Non-exempt Offer:
Not Applicable
22. Secondary (uridashi) offerings of
No
the Instruments is to be made in
Japan:

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