Loken chooses to bring his sword down, then pauses the swing to simply demonstrate the circumstance Nora is now in.

"My apologies for interrupting you. I'll answer your questions, and teach you how to beat me, though only one at a time."

He salutes her and steps back, sheathing his sword. And smiles, slightly. Not a self-satisfied smile, but rather one that indicates he realizes he should smile and be reassuring to youths.