Published on 6/4/2007 in the Prospect News Structured Products Daily.
New Issue: SG Structured Products sells $1.5 million 14.2% Tempo ReConvs linked to Seagate
By Jennifer Chiou
New York, June 4 - SG Structured Products, Inc. priced $1.5 million of 14.2% annualized Tempo ReConvs notes due Nov. 30, 2007 linked to Seagate Technology stock, according to a term sheet.
The notes will be automatically redeemed in whole if the closing price of Seagate Technology stock exceeds the initial share price of $20.76 on Aug. 24, 2007. The redemption price will be par plus accrued interest.
If Seagate Technology stock falls to or below the contingent protection level of $16.61, 80% of the initial level, during the life of the notes and the stock finishes below the initial share price, the payout will be $1,000 divided by the initial price, in stock or the equivalent in cash.
Otherwise, the payout is par.
Societe Generale is principal agent with Countrywide Securities Corp. as agent.
| Issuer: | SG Structured Products, Inc.
|
| Issue: | Tempo ReConvs
|
| Underlying security: | Seagate Technology stock
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| Amount: | $1.5 million
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| Maturity: | Nov. 30, 2007
|
| Coupon: | 14.2% annualized, payable quarterly
|
| Payment at maturity: | If Seagate Technology stock falls below the contingent protection level of $16.61 during the life of the notes and finishes below the initial price, payout will be $1,000 divided by the $20.76 initial price, in stock or equivalent in cash; otherwise par
|
| Initial price: | $20.76
|
| Contingent protection level: | $16.61, 80% of the initial level
|
| Call: | Automatically redeemed for par plus accrued interest if the closing price of Seagate Technology stock exceeds $20.76 on Aug. 24, 2007
|
| Pricing date: | May 29
|
| Settlement date: | May 30
|
| Agent: | SG Americas Securities, LLC, Countrywide Securities Corp.
|
| Fees: | 3.5% (maximum)
|
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