The term 'Palindromic Swedish Band' refers to the iconic pop group ABBA, which was formed in Stockholm, Sweden in 1972. ABBA is one of the most successful musical groups of all time, having sold over 400 million records worldwide and winning numerous awards. The band's name is a palindrome, meaning it reads the same forwards and backwards. ABBA is best known for their hit songs such as 'Dancing Queen', 'Mamma Mia', and 'Take a Chance on Me'.