Published on 12/5/2007 in the Prospect News Structured Products Daily.
New Issue: SG Structured Products sells $750,000 18% ReConvs linked to SanDisk
By Laura Lutz
Des Moines, Dec. 5 - SG Structured Products, Inc. priced $750,000 of 18% ReConvs notes due Feb. 29, 2008 linked to SanDisk Corp. stock, according to a term sheet.
Interest is payable monthly.
If SanDisk stock falls below the limit price of $29.80, 80% 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 $37.25 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.
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Issue: | ReConvs
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Underlying stock: | SanDisk Corp. (Symbol: SNDK)
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Amount: | $750,000
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Maturity: | Feb. 29, 2008
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Coupon: | 18%, payable monthly
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Price: | Par
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Payment at maturity: | If SanDisk stock falls below the limit price of $29.80 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 $37.25 initial price or equivalent in cash; otherwise par
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Initial price: | $37.25
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Limit price: | $29.80, 80% of the initial level
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Pricing date: | Nov. 27
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Settlement date: | Nov. 30
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Agents: | SG Americas Securities, LLC (lead), Countrywide Securities Corp. (co-agent)
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Fee: | 3.5% (maximum)
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