Published on 4/3/2007 in the Prospect News Structured Products Daily.
New Issue: SG Structured Products prices $1.75 million 11% ReConvs linked to Qualcomm
By Angela McDaniels
Seattle, April 3 - SG Structured Products, Inc. priced a $1.75 million issue of 11% ReConvs due March 28, 2008 linked to the common stock of Qualcomm Inc., according to a term sheet.
Interest is payable quarterly.
The payout at maturity will be par unless Qualcomm stock falls below the limit price of $33.80 during the life of the notes and finishes below the initial share price of $42.25, in which case the payout will be a number of Qualcomm 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: | Qualcomm Inc.
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Amount: | $1.75 million
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Maturity: | March 28, 2008
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Coupon: | 11%, payable quarterly
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Price: | Par
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Payout at maturity: | If Qualcomm stock falls below the limit price during the life of the notes and finishes below the initial share price, 23.06686 Qualcomm shares; otherwise, par
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Initial share price: | $42.25
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Limit price: | $33.80, 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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