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SG Structured Products to price 20% Tempo ReConvs linked to Wells Fargo
By Laura Lutz
Des Moines, Feb. 4 - SG Structured Products, Inc. plans to price 20% Tempo ReConvs due Aug. 20, 2008 linked to Wells Fargo & Co. common stock, according to a term sheet.
Interest will be payable quarterly.
The notes will be automatically redeemed at par if the closing price of Wells Fargo shares exceeds the initial share price on May 14.
At maturity, investors will receive par unless Wells Fargo stock falls below the knock-in price - 80% 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 Wells Fargo shares equal to par divided by the initial share price.
The notes will price on Feb. 14 and settle on Feb. 20.
SG Americas Securities, LLC is lead agent with Countrywide Securities Corp. as co-agent.
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