Published on 6/4/2007 in the Prospect News Structured Products Daily.
New Issue: SG Structured Products prices $1.5 million 9.1% ReConvs linked to ConocoPhillips
By Angela McDaniels
Seattle, June 4 - SG Structured Products, Inc. priced a $1.5 million issue of 9.1% ReConvs due May 30, 2008 linked to the common stock of ConocoPhillips, according to a term sheet.
Interest is payable quarterly.
The payout at maturity will be par unless ConocoPhillips stock falls below the limit price of $64.05 during the life of the notes and finishes below the initial share price of $75.35, in which case the payout will be a number of ConocoPhillips shares equal to $1,000 divided by the initial share price or the equivalent cash value.
SG Americas Securities, LLC is principal agent, with Countrywide Securities Corp. as co-agent.
Issuer: | SG Structured Products, Inc.
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Issue: | ReConvs
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Underlying stock: | ConocoPhillips
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Amount: | $1.5 million
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Maturity: | May 30, 2008
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Coupon: | 9.1%, payable quarterly
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Price: | Par
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Payout at maturity: | If ConocoPhillips stock falls below the limit price during the life of the notes and finishes below the initial share price, 13.2714 ConocoPhillips shares or equivalent cash value; otherwise, par
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Initial share price: | $75.35
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Limit price: | $64.05, 85% of initial share price
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Pricing date: | May 29
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Issue date: | May 30
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Agents: | SG Americas Securities, LLC (lead), Countrywide Securities Corp.
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Fees: | 3.5% (maximum)
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