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SG Structured Products to price 14% ReConvs linked to Citigroup
By Laura Lutz
Des Moines, March 4 - SG Structured Products, Inc. plans to price 14% ReConvs due March 19, 2009 linked to Citigroup Inc. common stock, according to a term sheet.
Interest will be payable monthly.
At maturity, investors will receive par unless Citigroup stock falls below the knock-in price - 70% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Citigroup shares equal to par divided by the initial share price.
The notes will price on March 14 and settle on March 19.
SG Americas Securities, LLC is lead agent with Countrywide Securities Corp. as co-agent.
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