By Jennifer Chiou
New York, Dec. 5 - SG Structured Products, Inc. priced $1 million of 16.15% ReConvs notes due Feb. 29, 2008 linked to Foster Wheeler Ltd. stock, according to a term sheet.
Interest is payable monthly.
If Foster Wheeler stock falls below the limit price of $98.73, 75% of the initial level, during the life of the notes and the stock finishes below the initial share price, the payout at maturity will be a number of shares equal to par divided by the $131.64 initial price or the equivalent in cash.
Otherwise, the payout is par.
SG Americas Securities, LLC is lead agent with Countrywide Securities Corp. as co-agent.
| Issuer: | SG Structured Products, Inc.
|
| Issue: | ReConvs
|
| Underlying stock: | Foster Wheeler Ltd. (Symbol: FWLT)
|
| Amount: | $1 million
|
| Maturity: | Feb. 29, 2008
|
| Coupon: | 16.15%, payable monthly
|
| Price: | Par
|
| Payment at maturity: | If Foster Wheeler stock falls below the limit price of $98.73 during the life of the notes and finishes below the initial price, payout will be a number of shares equal to par divided by the $131.64 initial price or equivalent in cash; otherwise par
|
| Initial price: | $131.64
|
| Limit price: | $98.73, 75% of the initial level
|
| Pricing date: | Nov. 27
|
| Settlement date: | Nov. 30
|
| Agents: | SG Americas Securities, LLC (lead), Countrywide Securities Corp. (co-agent)
|
| Fees: | 3.5% (maximum)
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
