Published on 6/7/2007 in the Prospect News Structured Products Daily.
New Issue: Hartford Life sets terms on 0% principal-protected notes linked to S&P 500
By Jennifer Chiou
New York, June 7 - Hartford Life Insurance Co. set the terms on an undisclosed amount of zero-coupon principal-protected notes due June 11, 2014 linked to the S&P 500 index, according to a 424B5 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any gain on the index multiplied by the participation rate, which is 104%.
Investors will receive at least par.
Bear, Stearns & Co. Inc. is the lead agent.
Issuer: | Hartford Life Insurance Co.
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Issue: | Principal-protected notes
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Underlying index: | S&P 500
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Maturity: | June 11, 2014
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 104% of any index gain; floor of par
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Initial index level: | 1,517.38
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Pricing date: | June 6
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Settlement date: | June 11
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Agents: | Bear, Stearns & Co. Inc. (lead); A.G. Edwards & Sons, Inc.; Banc of America Securities LLC; Charles Schwab & Co., Inc.; Citigroup; Fidelity Capital Markets Services; Merrill Lynch & Co.; Morgan Stanley; Piper Jaffray & Co.; Raymond James; RBC Dain Rauscher, Inc.; Scott & Stringfellow, Inc.; UBS Investment Bank; Wachovia Securities
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Fees: | 3.25%
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