Published on 4/3/2007 in the Prospect News Structured Products Daily.
New Issue: SG Structured Products prices $1.5 million 14.8% ReConvs linked to D.R. Horton
By Angela McDaniels
Seattle, April 3 - SG Structured Products, Inc. priced a $1.5 million issue of ReConvs due Sept. 28, 2007 linked to the common stock of D.R. Horton, Inc., according to a term sheet.
The six-month notes will pay 7.4% for an annualized rate of 14.8%. Interest is payable quarterly.
The payout at maturity will be par unless D.R. Horton stock falls below the limit price of $17.66 during the life of the notes and finishes below the initial share price of $22.08, in which case the payout will be a number of D.R. Horton shares equal to $1,000 divided by the initial share price.
SG Americas Securities, LLC is principal 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: | D.R. Horton, Inc.
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Amount: | $1.5 million
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Maturity: | Sept. 28, 2007
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Coupon: | 14.8%, payable quarterly
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Price: | Par
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Payout at maturity: | If D.R. Horton stock falls below the limit price during the life of the notes and finishes below the initial share price, 45.2899 D.R. Horton shares; otherwise, par
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Initial share price: | $22.08
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Limit price: | $17.66, 80% of initial share price
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Pricing date: | March 29
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Settlement date: | March 30
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Agents: | SG Americas Securities, LLC (lead), Countrywide Securities Corp.
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Agent fee: | 3.5% (maximum)
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