By Jennifer Chiou
New York, Jan. 10 - SG Structured Products Inc. priced $1 million of 13.25% ReConvs notes due June 27, 2008 linked to Baker Hughes Inc. stock, according to a term sheet.
If Baker Hughes stock falls below the contingent protection level of $65.63, 80% of the initial level, during the life of the notes and the stock finishes below the initial share price, the payout will be a number of shares equal to par divided by the $82.04 initial price or the equivalent in cash.
Otherwise, the payout is par.
Interest is payable monthly.
Societe Generale 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 security: | Baker Hughes Inc. (Symbol: BHI)
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Amount: | $1 million
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Maturity: | June 27, 2008
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Coupon: | 13.25%, payable monthly
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Price: | Par
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Payment at maturity: | If Baker Hughes stock falls below the contingent protection level of $65.63 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 $82.04 initial price or equivalent in cash; otherwise par
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Initial price: | $82.04
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Contingent protection level: | $65.63, 80% of the initial level
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Pricing date: | Dec. 21
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Settlement date: | Dec. 28
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Agents: | Societe Generale (lead), Countrywide Securities Corp. (co-agent)
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Fees: | 3.5% (maximum)
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