Hartford Life plans 0% principal-protected notes linked to S&P 500

By Angela McDaniels

Seattle, Jan. 22 - Hartford Life Insurance Co. plans to price an offering of zero-coupon principal-protected notes due Feb. 6, 2013 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The notes will price on Feb. 1 and settle on Feb. 6.

The payout at maturity will be par plus any gain on the index multiplied by the participation rate, which is expected to be between 100% and 106% and will be determined at pricing. Investors will receive at least par.

The agents for the offering will be Bear, Stearns & Co. Inc., A.G. Edwards & Sons Inc., Banc of America Securities LLC, Charles Schwab & Co. Inc., Citigroup, Fidelity Capital Markets Services, Merrill Lynch & Co., Morgan Stanley, Piper Jaffray & Co., Raymond James, RBC Dain Rauscher Inc., Scott & Stringfellow Inc., UBS Investment Bank and Wachovia Securities. They will receive a discount of 2.75%.

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