CAPITAL-PROTECTED INVESTMENTS NOVEMEBER …webapp.sebgroup.com/mb/mblib.nsf/a-w/D380E4BE1E6D1021C...Company Sector Country MAN AG Nestle SA Swisscom AG Groupe Bruxelles Lambert SA

CAPITAL-PROTECTED INVESTMENTS NOVEMEBER 2014

Investment offers

Capital-protected investments Issue price

Nominal amount

Participation Rate

Term

Equity-linked Note Emerging Markets Linked to the markets in Singapore, Taiwan, Poland,

Czech Republic, Hungary and Mexico.

1411C

11 000

10 000

130%

3 yr

Equity-linked Note Europe Linked to the index S&P Europe 350 Low Volatility Index (EUR).

1411E 1411F

10 200 11 000

10 000 10 000

50% 150%

4 yr 4 yr

Equity-linked Note Global Healthcare Linked to a basket of ten pharmaceutical companies.

1411H

11 000

10 000

150%

3 yr

Equity-linked Note Global Titans Linked to a basket of ten multi-national brands.

1411K 1411L

10 200 11 000

10 000 10 000

50% 190%

3 yr 3 yr

Equity-linked Note Sweden Linked to the index OMX Stockholm 30 Index.

1411S 1411T

10 200 11 000

10 000 10 000

50% 120%

4 yr 4 yr

Full information about the offer Investments in financial instruments are risk related. You can learn more about the risks on the Fact sheet further back in the brochure. Full information on the Issuer and the offer of the financial instruments is only available on the basis of the combination of these Final Terms and Base Prospectus for the Medium Term Note Programme . SEB’s MTN-program is available at seb.se/strukt. The Final Terms is available at seb.se/kapitalskydd.

Product group B. More information about SEB’s product groups is available at www.seb.se. How to invest You can buy our capital-protected investments through our internet bank or at the nearest SEB office.

.

Invest safely in different asset classes through capital protected investments SEB’s investment philosophy is based on to seven different asset classes, that open up to a variety of investment opportunities. The palette ranges from more traditional asset classes such as equities and fixed income to alternative asset classes such as real estate, currencies, commodities, private equity and hedge funds. You can combine the potential gain of one of these underlying assets while maintaining the security of our capital protected notes.

The benefits of capital protected investments

Seen over a longer time period, there are benefits of investing in capital protected notes. Analyses on Swedish index-linked notes issued by SEB from 1999, show that the index-linked notes have outperformed its underlying index. Both the index-linked note and the underlying index follow the market movement. However, the capital protection prevents the downside market performance which benefits the performance of the index-linked note.

The graph illustrates the performance (including brokerage fee of 2 percent) of the capital protected investment whose return is linked to the Swedish stock market, compared with the Swedish stock market (including dividends). The data refers to past performance. Historical performance is no guarantee for future results.

What is a capital protected investment A capital protected investment means that the nominal amount will be paid by the issuer on redemption day. The investments described in the brochure are issued by SEB. Repayment of the nominal amount and possible return therefore requires that SEB meets its obligations on the maturity date. Normally, a capital protected investment is constructed to fit investors who believe in a rising market. This means that if the underlying market that the investment is linked to has risen on the maturity date, the investment will pay an amount related to the rise. If the price of the underlying market is unchanged or has fallen, the investment will repay the nominal amount (SEK 10,000 per note) on the redemption date .The growth in the underlying market is calculated as the difference between the initial and closing value. Some types of capital protected investments are constructed so that any additional amount is paid out even if the underlying market has fallen, moved within a certain range or has gone up compared to another market. The general description in the brochure relates to capital protected investments that are constructed for those who believe in a rising market. How each individual offer works is described on the respective product page in the brochure and it’s specific Final Terms. The closing value is often defined as an average over the final year, this reduces the impact of a possible fall. If the underlying market rises during this period, the closing value will be lower than the actual market rise. At a fall, the closing value will be higher than the actual market fall. Further information on how the closing value is determined for the current offer is detailed on the Fact sheet at the end of this brochure. What is participation? The participation shows how much of the market’s rise you will have access to (leverage). The participation is multiplied by the market rise. If the participation is greater than 100 percent, the investor can get a higher return than the underlying market rise. The participations in the brochure are preliminary and they will be determined at settlement date. Thereafter, they remain unchanged. A few examples of what affects participations are Swedish interest rates, the price movement (volatility) in the selected market and the situation on the currency markets. Information about the minimum participation rate can be found on the Fact sheet under the section “Issuer’s right to cancel”. The final participations will be confirmed in the Final Terms which can be found on the Secondary Market, quotation list on www.seb.se.

Issue above par – the possibility of higher returns but to greater risk. Out offers are offered at different prices, for example SEK 10,000 or SEK 11,000. The higher the price the investor pays at time of purchase for a capital protected investment, the higher the participation rate and therefore the higher potential for future returns. If the investor chooses a capital protected investment for SEK 11,000 the investor will take a greater risk of SEK 1,000. If the market goes up, the investor receives a higher return. If the market falls or remains unchanged on the redemption date, the investor receives the principal amount (SEK 10,000) and makes a loss equal to the issue above par and Commission. Possibility to sell before maturity. The basic idea of a capital protected investment is that the investor keeps it until the redemption date, as this is when the investor receives at least the principal amount. You still have the opportunity to sell during the term of the investment, for example if the investment has risen in value and you want to make a profit hedging. Sales are made at daily value, which means that prices can be both higher and lower than the investment’s nominal amount, partly because of how the underlying market has developed to the time of sale. If the underlying market value rises, the value of the investment is also rising, but not as fast. At the beginning of the maturity of the investment, you should not have the same expectation that a capital protected investment will increase in value at the same pace as the underlying market. This is particularly true for the capital protected investments that have a limit on the possible return (when there are only returns up to a certain, predetermined level).

*Preliminary. For the lowest possible participation, please read the section “Issuer’s right to cancel”. ** For exact term, see Fact sheet

1411C Issue price: SEK 11 000 per Note Nominal amount: SEK 10 000 per Note Participation: 130 %* Maturity: 3 years**

Summary The note offers exposure to a number of countries in emerging markets that SEB believes have upside potential. The return is linked to equity markets in Mexico, Poland, the Czech Republic, Hungary, Taiwan and Singapore through a basket of indices and funds. The basket in not equally weighted, see index weight in the table below. The product is Capital Protected. At maturity, the investor receives at least 100 percent of the Nominal Amount. Why invest in Emerging Markets? + Good outlook for several emerging market economies. + Strong corporate profits. - The slow growth in the Eurozone weighs down on several stock

markets within the emerging markets. - Emerging markets are extra sensitive to investors’ lower risk appetite.

Name Weight

iShares MSCI Mexico Capped – follows the stock market in Mexico. CECE Composite Index – follows the stock market in Poland, Czech Republic and Hungary. MSCI Taiwan Index – follows the stock market in Taiwan. MSCI Singapore Free Index – follows the stock market in Singapore.

10 % 30 % 30 % 30 %

EQUITY-LINKED NOTE EMERGING MARKETS 1411C

*Preliminary. For the lowest possible participation, please read the section “Issuer’s right to cancel”. ** For exact term, see Fact sheet

1411E Issue price: SEK 10 200 per Note Nominal amount: SEK 10 000 per Note Participation: 50 %* 1411F Issue price: SEK 11 000 per Note Nominal amount: SEK 10 000 per Note Participation: 150 %* Maturity: 4 years**

Summary The return is linked to the S&P Europe 350 Low Volatility Index (EUR) which covers the 17 largest stock markets in Europe. The index selects the 100 least volatile stocks. The return is affected both by the basket performance and the exchange rate changes between the Swedish krona and the Euro. A weakening of the Euro has a negative effect while a strengthening of the Euro has a positive effect. The nominal amount is not affected by exchange rate changes. At maturity, the investor receives at least 100 percent of the Nominal Amount. Why invest in Europe? + Positive outlook for rising corporate profits. + Private and professional investors are more positive towards the

European market. - There are still uncertainties concerning the European economy. - The political risks within EU may scare off investors

Top ten companies with largest weight in the index (as of September 2014)

Company Sector Country

MAN AG Nestle SA Swisscom AG Groupe Bruxelles Lambert SA Swiss RE AG National Grid PLC Zurich Financial Services AG Compass Group PLC Novartis AG Iberdrola SA

Industrials Telecommunication Consumer Staples Finance Finance Utilities Finance Consumer Discretionary Health Care Utilities

Germany Switzerland Switzerland Belgium Switzerland Great Britain Switzerland Great Britain Switzerland Spain

EQUITY-LINKED NOTE EUROPE 1411E/1411F

*Preliminary. For the lowest possible participation rate, please read the section “Issuer’s right to cancel”. ** For exact term, see Fact sheet

1411H Issue price: SEK 11 000 per Note Nominal amount: SEK 10 000 per Note Participation: 150 %* Maturity: 3 years**

Summary The return is linked to a basket of ten pharmaceutical companies, please see list below. The product is Capital Protected. The return is affected both by the basket performance and the exchange rate changes between the Swedish krona and the U.S. dollar. A weakening of the dollar has a negative effect while a strengthening of the dollar has a positive effect. The nominal amount is not affected by exchange rate changes. At maturity, the investor receives at least 100 percent of the Nominal Amount. Why invest in Global Healthcare? + Rising demand for healthcare services and providers. + Many profitable company with strong financials. - Political decisions can have negative effect on the sector. - Investors with higher risk appetite tend to choose other sectors.


Eisai CO LTD Baxter International INC Fresenius Medical Care AG GlaxoSmithKline PLC Johnson & Johnson INC Medtronmic INC Novartis AG Pfizer INC Roche Holding AG Sanofi SA

Pharmaceuticals & Biotechnology Health Care Equipment & Services Health Care Equipment & Services Pharmaceuticals & Biotechnology Pharmaceuticals & Biotechnology Health Care Equipment & Services Pharmaceuticals & Biotechnology Pharmaceuticals & Biotechnology Pharmaceuticals & Biotechnology Pharmaceuticals & Biotechnology

Japan U.S Germany Great Britain U.S U.S Switzerland U.S Switzerland France

EQUITY-LINKED NOTE GLOBAL HEALTHCARE 1411H


1411K Issue price: SEK 10 200 per Note Nominal amount: SEK 10 000 per Note Participation: 50 %* 1411L Issue price: SEK 11 000 per Note Nominal amount: SEK 10 000 per Note Participation: 190 %* Maturity: 3 years**

Summary The return is linked to a basket of ten large multi-national companies, please see list below. The product is Capital Protected. The return is affected both by the basket performance and the exchange rate changes between the Swedish krona and the U.S. dollar. A weakening of the dollar has a negative effect while a strengthening of the dollar has a positive effect. The nominal amount is not affected by exchange rate changes. At maturity, the investor receives at least 100 percent of the Nominal Amount. Why invest in Global Titans? + Large, established companies offer higher stability. + Many stock valuations are at attractive levels. - Higher risk appetite will probably benefit smaller companies. - Many companies are sensitive to changes in private consumption.


AT&T Inc. CLP Holdings Ltd ConocoPhillips Co GlaxoSmithKline PLC HSBC Holdings Plc Johnson & Johnson Inc. Nestlé SA Procter & Gamble Co Royal Dutch Shell Plc Siemens AG

Telecommunication Utilities Energy Health Care Finance Health Care Consumer Staples Consumer Staples Energy Industrials

U.S Hong Kong U.S Great Britain Hong Kong U.S Switzerland U.S Netherlands Germany

EQUITY-LINKED NOTE GLOBAL TITANS 1411K/1411L


1411S Issue price: SEK 10 200 per Note Nominal amount: SEK 10 000 per Note Participation: 50 %* 1411T Issue price: SEK 11 000 per Note Nominal amount: SEK 10 000 per Note Participation: 120 %* Maturity: 4 years**

Summary The return is linked to the index OMX Stockholm 30 Index. The index consists of the 30 most actively traded stocks on the Stockholm Stock Exchange. The product is Capital Protected. At maturity, the investor receives at least 100 percent of the Nominal Amount. Why invest in Sweden? + Company profits have turned positive + Interest rates will remain low for a very long time. - Economic recovery is halting. - Political tensions between Russia and Ukraine.

Top ten companies with largest weight in the index (as of October 2014)

Company Sector

Hennes & Mauritz AB Nordea Bank AB LM Ericsson TeliaSonera AB Svenska Handelsbanken AB Skandinaviska Enskilda Banken AB Swedbank AB Atlas Copco AB Assa Abloy AB Volvo AB

Consumer Staples Finance Telecommunication Telecommunication Finance Finance Finance Industrials Industrials Industrials

EQUITY-LINKED NOTE SWEDEN 1411S/1411T

Calculation examples

SEB1411CIndex Initial investment Redemption Return Annualised

return* incl fees amount incl fees return**

-20% 11 220 kr 10 000 kr -10,9% -3,8%

0% 11 220 kr 10 000 kr -10,9% -3,8%

9,4% 11 220 kr 11 220 kr 0,0% 0,0%

20% 11 220 kr 12 600 kr 12,3% 3,9%

40% 11 220 kr 15 200 kr 35,5% 10,6%

60% 11 220 kr 17 800 kr 58,6% 16,6%

80% 11 220 kr 20 400 kr 81,8% 22,1%

SEB1411E SEB1411FIndex Initial investment Redemption Return Annualised Index Initial investment Redemption Return Annualised

return* incl fees amount incl fees return** return* incl fees amount incl fees return**

-20% 10 404 kr 10 000 kr -3,9% -1,0% -20% 11 220 kr 10 000 kr -10,9% -2,8%

0% 10 404 kr 10 000 kr -3,9% -1,0% 0% 11 220 kr 10 000 kr -10,9% -2,8%

8,1% 10 404 kr 10 404 kr 0,0% 0,0% 8,1% 11 220 kr 11 220 kr 0,0% 0,0%

20% 10 404 kr 11 000 kr 5,7% 1,4% 20% 11 220 kr 13 000 kr 15,9% 3,8%

40% 10 404 kr 12 000 kr 15,3% 3,6% 40% 11 220 kr 16 000 kr 42,6% 9,3%

60% 10 404 kr 13 000 kr 25,0% 5,7% 60% 11 220 kr 19 000 kr 69,3% 14,1%

80% 10 404 kr 14 000 kr 34,6% 7,7% 80% 11 220 kr 22 000 kr 96,1% 18,3%

If the dollar strengthens by 20 percent. The redemption amount will be If the dollar strengthens by 20 percent. The redemption amount will be

12 400 kr, which is equivalent to 4.49 percent in annulised return. 17 200 kr, which is equivalent to 11.28 percent in annulised return.

If the dollar weakens by 20 percent. The redemption amount will be If the dollar weakens by 20 percent. The redemption amount will be


SEB1411HIndex Initial investment Redemption Return Annualised

return* incl fees amount incl fees return**

-20% 11 220 kr 10 000 kr -10,9% -3,8%

0% 11 220 kr 10 000 kr -10,9% -3,8%

8,1% 11 220 kr 11 220 kr 0,0% 0,0%

20% 11 220 kr 13 000 kr 15,9% 5,0%

40% 11 220 kr 16 000 kr 42,6% 12,6%

60% 11 220 kr 19 000 kr 69,3% 19,2%

80% 11 220 kr 22 000 kr 96,1% 25,2%

If the dollar strengthens by 20 percent. The redemption amount will be

17 200 kr, which is equivalent to 15.30 percent in annulised return.

If the dollar weakens by 20 percent. The redemption amount will be

14 800 kr, which is equivalent to 9.67 percent in annulised return.

SEB1411K SEB1411LIndex Initial investment Redemption Return Annualised Index Initial investment Redemption Return Annualised


-20% 10 404 kr 10 000 kr -3,9% -1,3% -20% 11 220 kr 10 000 kr -10,9% -3,8%

0% 10 404 kr 10 000 kr -3,9% -1,3% 0% 11 220 kr 10 000 kr -10,9% -3,8%

8,1% 10 404 kr 10 404 kr 0,0% 0,0% 6,4% 11 220 kr 11 220 kr 0,0% 0,0%

20% 10 404 kr 11 000 kr 5,7% 1,9% 20% 11 220 kr 13 800 kr 23,0% 7,1%

40% 10 404 kr 12 000 kr 15,3% 4,9% 40% 11 220 kr 17 600 kr 56,9% 16,2%

60% 10 404 kr 13 000 kr 25,0% 7,7% 60% 11 220 kr 21 400 kr 90,7% 24,0%

80% 10 404 kr 14 000 kr 34,6% 10,4% 80% 11 220 kr 25 200 kr 124,6% 31,0%

If the dollar strengthens by 20 percent. The redemption amount will be If the dollar strengthens by 20 percent. The redemption amount will be


If the dollar weakens by 20 percent. The redemption amount will be If the dollar weakens by 20 percent. The redemption amount will be


SEB1411S SEB1411TIndex Initial investment Redemption Return Annualised Index Initial investment Redemption Return Annualised


-20% 10 404 kr 10 000 kr -3,9% -1,0% -20% 11 220 kr 10 000 kr -10,9% -2,8%

0% 10 404 kr 10 000 kr -3,9% -1,0% 0% 11 220 kr 10 000 kr -10,9% -2,8%

8,1% 10 404 kr 10 404 kr 0,0% 0,0% 10,2% 11 220 kr 11 220 kr 0,0% 0,0%

20% 10 404 kr 11 000 kr 5,7% 1,4% 20% 11 220 kr 12 400 kr 10,5% 2,5%

40% 10 404 kr 12 000 kr 15,3% 3,6% 40% 11 220 kr 14 800 kr 31,9% 7,2%

60% 10 404 kr 13 000 kr 25,0% 5,7% 60% 11 220 kr 17 200 kr 53,3% 11,3%

80% 10 404 kr 14 000 kr 34,6% 7,7% 80% 11 220 kr 19 600 kr 74,7% 15,0%

Global Titans

Sweden Sweden

*Return of the underlying index is calculated as (final value/initial value-1). **Annualised return is the return per year, including fees.

Emerging Markets

Global Healthcare

Europe Europe

Global Titans

Fact sheet Subscription period 3 November – 28 November 2014.

Payment date 9 December 2014.

On payment date, the settlement amount is deducted in accordance with directions in the application form.

Term Emerging Markets, Global Healthcare and Global Titans 9 December 2014 – 8 December 2017.

Europe and Sweden 9 December 2014 – 7 December 2018.

Nominal amount SEK 10 000 per note.

Initial Valuation Date Emerging Markets, Europe and Sweden Calculated on 3 December 2014.

Global Healthcare and Global Titans Calculated on 4 December 2014.

Initial Valuation Currency Date Europe, Global Healthcare and Global Titans Calculated on 3 December 2014.

Observation Dates Emerging Markets, Global Healthcare and Global Titans Calculated as an average of the closing value of the underlying market on the 22th of every month from 22 November 2016 – 22 November 2017.

Europe and Sweden Calculated as an average of the closing value of the underlying market on the 21th of every month from 21 November 2017 – 21 November 2018.

Final Valuation Currency Date Global Healthcare and Global Titans Calculated on 24 November 2017.

Europe Calculated on 22 November 2018.

Price, Fees and Compensation The price per Note varies from SEK 10 200 to SEK 11 000 plus a Commission depending on the chosen investment. A Commission (transaction cost) and an arranger’s fee (included in the price of the investment) are charged to cover SEB’s operating expenses and operating profit. The conditions for the product are set on the payment date, and settlement amount and Commission are due for payment. If the product is sold on the secondary market a Commission will be charged according to current price list.

Commission 2 percent of settlement amount per settlement note. VP account holders are subject to an additional transaction fee of SEK 10.

Arranger’s fee The arranger’s fee may vary and is determined after the terms have been decided. The arranger’s fee may not exceed 1.2 percent of the issued amount per year. The calculation is based on the assumption that the investment is retained until the redemption date. The arranger’s fee covers costs such as production, stock exchange registration, distribution, licensing and risk management. Risk management refers to the risk arising from SEB’s commitment to fulfill the terms of the investment; this risk must be actively managed during the investment's term. As a result, a risk management margin arises which can be either positive or negative. The arranger’s fee is included in the price of the investment.

Compensation SEB may provide compensation to a third party that distributes the Bank’s capital protected investments. The compensation is normally calculated as a percentage of the invested nominal amount related to the sales of such a distributor. This means that the compensation is calculated only after the sales period is closed.

SEB normally pays out 0.5-1 percent of the invested nominal amount. The compensation is part of SEB’s Arranger’s fee. More information about the bank’s compensation and conflicts of interest can be at www.seb.se.

Depository VP or custodian account with SEB or other bank or securities broker.

Currency hedging These capital protected investments offer the opportunity to invest in global markets without currency fluctuations directly affecting the return because all calculations and payments are made in Swedish kronor. Do not apply to 1411E, 1411F, 1411H, 1411K and 1411L whose return is affected by FX changes.

Exchange listing The NASDAQ OMX Stockholm Stock Exchange or other regulated stock exchange.

Secondary market You can sell your capital protected investment at any time, since SEB under

normal circumstances will offer a bid price. The price may be higher or lower than both the original amount invested and the nominal amount depending on the valuation. The price on the secondary market is determined by terms to maturity, the underlying market development, price movement (volatility) and interest rates. Generally, investments that contain restrictions on the growth in underlying assets have fewer adherences with gains in the underlying assets than would otherwise be the case. These investments are suitable in general for an investor whose investment horizon is consistent with the investment’s maturity. A Commission will be charged according to current price list.

Codes and Isin codes Information regarding the value of capital protected investments is provided on contract notes, annual statements, internet and letters from SEB and Euroclear Sweden AB (previously VPC) and on NASDAQ OMX Stockholm AB’s price quote list. Capital protected investments are referred to by their codes which are listed below:

Codes Isin Codes

SEB1411C SE0006257820 SEB1411E SE0006257838 SEB1411F SE0006257846 SEB1411H SE0006257853 SEB1411K SE0006257861 SEB1411L SE0006257879 SEB1411S SE0006257887 SEB1411T SE0006257895

Comprehensive terms and conditions The terms in SEB’s MTN programme published July 2014 and any published prospectus supplements together with the Final Terms, dated December 2014, govern these capital protected investments. SEB's base prospectus is published and approved by The Swedish Financial Supervisory Authority. The published base prospectus and Final Terms are available for viewing at www.seb.se. The base prospectus is also available at The Swedish Financial Supervisory Authority. These capital protected investments and all related contractual documentation will be governed by, and construed in accordance with, Swedish law. Disputes concerning the interpretation and application of these General Terms and Conditions shall be adjudicated by Swedish courts, in the first instance by the Stockholm District Court.

Swedish confidentiality (PuL) legislation For information regarding SEB’s treatment of personal and other information pursuant to Swedish PuL confidentiality legislation, please refer to the reverse of the application form.

Issuer Skandinaviska Enskilda Banken AB (publ) ”SEB”, SE106 40, Stockholm, orgnr 502032-9081, has permission to manage Securities operations. SEB is under supervision of The Swedish Financial Supervisory Authority. SEB has received rating ”A+” according to Standard & Poor’s, and ”A1” according to Moody’s. Rating may be subject to change so it is the Investor’s duty to obtain information about the current rating.

Issuer’s right to cancel

SEB reserves the right to cancel any or all of the investment alternatives if:

A) Economic, financial or political events occur, which according to SEB's judgment may jeopardise the successful launch of these capital protected investments.

B) The subscribed amount for any of the investment alternatives is less than SEK 20,000,000.

C) The participation cannot be set to at least:

SEB1411C 110 % SEB1411E 40 % SEB1411F 135 % SEB1411H 135 % SEB1411K 40 % SEB1411L 175 % SEB1411S 40 % SEB1411T 105 %

Product group B. More information about SEB’s product groups can be found at www.seb.se.

Complaint If you have any complaints regarding this product, you can contact the division within SEB that provided the product. If the complaint remains please contact:

SEB Kundrelationer SE106 40 Stockholm Sweden

Further information about complaints and how to proceed with your complaint case can be found on SEB’s website, www.seb.se.

Want to know more? To contact SEB, visit your nearest SEB office or visit us our website, www.seb.se.

In general This brochure is produced by SEB and provides general market information on SEB’s capital protected investments. The content is based on sources that SEB have judged to be reliable. SEB is not responsible for errors or defects in that information or for any loss whatsoever that may occur from reliance on it. If the information refers to an investment analysis you should if possible read the full report and information published in relation thereto. You are responsible in full for your investment decisions and should always obtain detailed information before deciding on an investment. Further information, such as product sheets, the Final Terms and the information-/marketing brochures for capital protected investments are available at www.seb.se. If necessary, you can also obtain advice on investments customized to your individual needs from your advisor at SEB.

Disclaimer Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”) and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”) and have been licensed for use by S&P Dow Jones Indices LLC and sublicensed for certain purposes by SEB. The ”S&P Europe 350 Low Volatility Index (EUR)” is a product of S&P Dow Jones Indices LLC, and have been licensed for use by SEB. Equity-linked Note Europe is not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC, Dow Jones, S&P, their respective affiliates, and neither S&P Dow Jones Indices LLC, Dow Jones, S&P, their respective affiliates make any representation regarding the advisability of investing in such product(s).

NASDAQ®, OMX®, NASDAQ OMX® and OMX Stockholm 30 Index® are registered trademarks and trade names of The NASDAQ OMX Group, Inc. (which with its affiliates is referred to as the “Corporations”) and are licensed for use by SEB. The Product(s) have not been passed on by the Corporations as to their legality or suitability. The Product(s) are

not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE PRODUCT(S).”

The index CECE Composite Index (CECE) is calculated and published by Vienna Stock Exchange and therefore represents its intellectual property. The designation „CECE” is a registered trademark of Vienna Stock Exchange. The index description as well as its rules and composition are online available on www.indices.cc. Vienna Stock Exchange does not guarantee the accuracy and/or the completeness of the index or any data included therein and Vienna Stock Exchange shall have no liability for any errors, omissions, or interruptions therein. SEB1411 is not in any way sponsored, endorsed, sold or promoted by Vienna Stock Exchange. Vienna Stock Exchange makes no warranty or representation whatsoever, express or implied, to owners of the products, or any other person or entity from the use of the index or any data included therein. Without limiting any of the foregoing, in no event shall Vienna Stock Exchange have any liability for any special, punitive, indirect, or consequential damages (including lost profits), even if notified of the possibility of such damages.

The MSCI indexes are the exclusive property of MSCI Inc. (”MSCI”). MSCI and the MSCI index names are service mark(s) of MSCI or its affiliates and have been licensed for use for certain purposes by SEB. The financial securities referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such financial securities. The brochure contains a more detailed description of the limited relationship MSCI has with SEB and any related financial securities. No purchaser, seller or holder of this product, or any other person or entity, should use or refer to any MSCI trade name, trademark or service mark to sponsor, endorse, market or promote this product without first contacting MSCI to determine whether MSCI’s permission is required. Under no circumstances may any person or entity claim any affiliation with MSCI without the prior written permission of MSCI.

RISKS A safe investment, but a risk nonetheless. A capital protected investment is safe because it combines the possibility of investment gains, from the underlying markets, with the security of a bond. However, there are certain risks associated with a capital protected investment. A summary of these risks follows here: Credit risk: SEB is the issuer of these capital protected investments. This means that you, as the holder of a capital protected investment, have a credit risk at SEB. Repayment of the nominal amount and any applicable return assumes that SEB is able to fulfill these commitments on the redemption date. A capital protected investment is not covered by the state deposit guarantee programme. Liquidity risk / Price risk: The capital protection, i.e. the repayment of the nominal amount, is only applicable on the redemption date. This means that the market price of the investment may be lower than the nominal amount if it is sold during its term. The price on the secondary market during the term may be higher or lower than the nominal amount depending upon the valuation. The price is calculated on various factors, amongst others, the remaining term, underlying market movements and volatility in the markets. Currency risk: A capital protected investment offers the opportunity to invest in global markets without fluctuations in currency rates directly affecting the return, because all calculations and payments are made in Swedish Kronor. This does not apply to products which have their returns linked to currency rate fluctuations.

Other risks: A capital protected investment which has an issue price of e g SEK 11,000, carries a risk through the payment of a premium of SEK 1,000. If the underlying market rises it offers the possibility of a higher return. If the underlying market has dropped in value on the redemption date the investment returns the nominal amount. You take a risk on the interest you could have received if the money had been invested in pure interest-bearing investments. An investment in a capital protected investment can give a different return than a direct investment in the underlying market. Different arrangers’ capital protected investments, linked to the same market, are often constructed in different ways and are therefore difficult to compare. Information about how this capital protected investment is constructed can be found in the brochure. You can find more information in SEB’s Swedish MTN program which is published on SEB’s website. Rules on taxation Information about taxation is based on the rules that apply today. Tax rules may change over time. Any individual who is unsure about how a capital protected investment is taxed should consult a tax advisor. The consequences of the tax rules for each person will depend on their individual circumstances. Investment is constructed can be found in the brochure. You can find more information in SEB’s Swedish MTN program which is published on SEB’s website.

Example of total cost when investing a nominal amount of SEK 10 000 with a commission of 2 percent

Investment alternative Term

Issue Price Commission* Maximum arranger’s fee **

Total cost

Emerging Markets 1411C 3 years 110% 220 SEK 360 SEK 580 SEK Europe 1411E

1411F 4 years 4 years

102% 110%

204 SEK 220 SEK

480 SEK 480 SEK

684 SEK 700 SEK

Global Healthcare 1411H 3 years 110% 220 SEK 360 SEK 580 SEK Global Titans 1411K

1411L 3 years 3 years

102% 110%

204 SEK 220 SEK

360 SEK 360 SEK

564 SEK 580 SEK

Sweden

1411S 1411T

4 years 4 years

102% 110%

204 SEK 220 SEK

480 SEK 480 SEK

684 SEK 700 SEK

• The Commission is calculated as a percentage of the invested nominal amount and is paid separately. • ** Maximum arranger’s fee is calculated as 1.2 percent x term.

Documents

CAPITAL-PROTECTED INVESTMENTS NOVEMEBER …webapp.sebgroup.com/mb/mblib.nsf/a-w/D380E4BE1E6D1021C...Company Sector Country MAN AG Nestle SA Swisscom AG Groupe Bruxelles Lambert SA