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SG Structured Products to price 11.6% ReConvs linked to Schering-Plough
By Susanna Moon
Chicago, Jan. 14 - SG Structured Products Inc. plans to price 11.6% ReConvs due Jan. 28, 2009 linked to Schering-Plough Corp. common stock, according to a term sheet.
Interest will be payable monthly.
At maturity, investors will receive par unless Schering-Plough 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 Schering-Plough shares equal to par divided by the initial share price.
The notes will price on Jan. 25 and settle on Jan. 30.
SG Americas Securities, LLC is lead agent with Countrywide Securities Corp. as co-agent.
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