Published on 11/5/2007 in the Prospect News Structured Products Daily.
New Issue: SG Structured Products prices $1.5 million 19.15% ReConvs linked to CVRD
By Angela McDaniels
Tacoma, Wash., Nov. 5 - SG Structured Products, Inc. priced a $1.5 million issue of 19.15% ReConvs due April 30, 2008 linked to the American Depositary Shares of Companhia Vale do Rio Doce, according to a term sheet.
Interest is payable monthly.
The payout at maturity will be par unless CVRD shares fall by more than 25% during the life of the notes and the final share price is less than the initial share price, in which case the payout will be a number of CVRD shares equal to $1,000 divided by the initial share price or the equivalent cash value.
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 shares: | Companhia Vale do Rio Doce (NYSE: RIO)
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Amount: | $1.5 million
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Maturity: | April 30, 2008
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Coupon: | 19.15%, payable monthly
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Price: | Par
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Payout at maturity: | If CVRD shares fall below the limit price during the life of the notes and finish below the initial share price, 28.169 CVRD shares or equivalent cash value; otherwise, par
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Initial share price: | $35.50
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Limit price: | $26.63, 75% of initial share price
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Pricing date: | Oct. 26
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Settlement date: | Oct. 31
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Agents: | SG Americas Securities, LLC (lead), Countrywide Securities Corp.
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Fees: | 3.5% (maximum)
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