Third Reich Sword Knot

What appears at first sight to be an Army Officer/NCO sword knot, however on closer inspection the base of the acorn on this piece portrays a pair of SS runes, possibly indicating the rise or transfer of the recipient into the ranks of the SS?
Black leather strap has three, double silver lines. Slide is black leather, stem is silver crochet style through which a silver former may be seen. Oval acorn with SS runes clearly visible to the base.

Code: 54407