Published on 1/10/2008 in the Prospect News Structured Products Daily.
New Issue: SG Structured Products sells $1 million 17.8% ReConvs linked to Las Vegas Sands
By Laura Lutz
Des Moines, Jan. 10 - SG Structured Products, Inc. priced $1 million of 17.8% ReConvs notes due March 28, 2008 linked to Las Vegas Sands Corp. stock, according to a term sheet.
Interest will be payable monthly.
If Las Vegas Sands stock falls below the contingent protection level of $81.00, 80% of the initial level, during the life of the notes and the stock finishes below the initial share price, the payout will be par divided by the $108.00 initial price, in stock 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 security: | Las Vegas Sands Corp. (Symbol: LVS)
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Amount: | $1 million
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Maturity: | March 28, 2008
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Coupon: | 17.8%, payable monthly
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Price: | Par
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Payment at maturity: | If Las Vegas Sands stock falls below the contingent protection level of $81.00 during the life of the notes and finishes below the initial price, payout will be par divided by the $108.00 initial price, in stock or equivalent in cash; otherwise par
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Initial price: | $108.00
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Contingent protection level: | $81.00, 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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Agent: | SG Americas Securities, LLC (lead), Countrywide Securities Corp. (co-agent)
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Fee: | 3.5% (maximum)
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