Published on 12/5/2007 in the Prospect News Structured Products Daily.
New Issue: SG Structured Products sells $1 million 18.15% ReConvs linked to iShares FTSE/Xinhua China 25
By Laura Lutz
Des Moines, Dec. 5 - SG Structured Products, Inc. priced $1 million of 18.15% ETF-linked ReConvs notes due May 30, 2008 linked to shares of the iShares FTSE/Xinhua China 25 index fund, according to a term sheet.
Interest is payable monthly.
If the shares close below the limit price of $123.41, 70% of the initial level, during the life of the notes and finish below the initial share price, the payout at maturity will be a number of shares equal to par divided by the $176.30 initial price or the equivalent cash value.
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: | ETF-linked ReConvs
|
Underlying shares: | iShares FTSE/Xinhua China 25 index fund (NYSE: FXI)
|
Amount: | $1 million
|
Maturity: | May 30, 2008
|
Coupon: | 18.15%, payable monthly
|
Price: | Par
|
Payment at maturity: | If shares fall below the limit price of $123.41 during life of notes and finish below initial price, shares equal to par divided by initial price or equivalent cash value; otherwise, par
|
Initial price: | $176.30
|
Limit price: | $123.41, 70% of the initial level
|
Pricing date: | Nov. 27
|
Settlement date: | Nov. 30
|
Agents: | SG Americas Securities, LLC (lead), Countrywide Securities Corp. (co-agent)
|
Fee: | 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.