Issuer: The Swedish State through the Swedish National Debt Office.

Type of debt instrument: Running promissory note. A fixed interest bond with an annual interest payment in the form of a draw at a time in accordance with a schedule which is decided by the Swedish National Debt Office. Some premium bond issues are issued according to a fluctuating dividend/profit plan where the return/yield is fixed and based on the interest rate on a 180 day Swedish treasury bill. Other premium bond issues are issued at a fixed rate until maturity.

Maturity: Normally five to 10 years from the issue date.

Denomination: varies from year to year from a nominal SEK 1 to SEK 10.

Issuance: Issues are carried out following a decision by the Swedish National Debt Office. They also fix the issue price and the price plan for issues etc. Premium bond issues have been sold through banks and securities institutions.

Secondary market: The liquidity of the premium bond market is considered to be good, even though they are issued in nominal denominations. Around the time of the drawing of premium bonds there is no trading in the premium bond loans upon which a price is going to be allotted. Premium bonds can be traded on Retail Bonds list, which is an electronic exchange within OMX Nordic Exchange Stockholm.

Valuation: The price of a premium bond is stated in Swedish krona per premium bond. The price includes the accrued interest/return up to and including the settlement date. There may be substantial differences in the price of individual premium bonds and series of numbers. These differences are due to the guaranteed return on some of the series of numbers.

The drawing of prices on premium bonds is conducted by a set series and numbering order and drawn by the Swedish National Debt Office. A certain amount of small prices are drawn on the number of orders only. This means that an investor who has purchased an entire series of premium bond numbers will receive a guaranteed return - between 1.5% and 4.5% of the nominal value of the premium bond.

Delivery and settlement: The delivery and settlement of premium bonds is three banking days following the transaction date.

Link to the Swedish National Debt Office:
www.rgk.se
(Please refer to Retail borrowing under the heading "Funding")



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