By Laura Lutz
Des Moines, Nov. 5 - SG Structured Products, Inc. priced $750,000 of 20% Tempo ReConvs notes due May 30, 2008 linked to Apple Inc. stock, according to a term sheet.
Interest is payable quarterly.
If Apple stock falls below the limit price of $139.85, 80% of the initial level, during the life of the notes and the stock finishes below the initial share price, the payout at maturity will be a number of shares equal to par divided by the initial price or the equivalent in cash.
Otherwise, the payout is par.
The notes will be automatically redeemed in whole if the closing price of Apple stock exceeds the initial share price of $174.81 on Feb. 29, 2008. The redemption price will be par plus accrued interest.
SG Americas Securities, LLC is lead agent with Countrywide Securities Corp. as co-agent.
| Issuer: | SG Structured Products, Inc.
|
| Issue: | Tempo ReConvs
|
| Underlying stock: | Apple Inc. (Symbol: AAPL)
|
| Amount: | $750,000
|
| Maturity: | May 30, 2008
|
| Coupon: | 20%, payable quarterly
|
| Price: | Par
|
| Payment at maturity: | If Apple stock falls below the limit price of $139.85 during the life of the notes and finishes below the initial price, payout will be a number of shares equal to par divided by the $174.81 initial price or equivalent in cash; otherwise par
|
| Initial price: | $174.81
|
| Limit price: | $139.85, 80% of the initial level
|
| Call: | Automatically redeemed for par plus accrued interest if the closing price of Apple stock exceeds $174.81 on Feb. 29, 2008
|
| Pricing date: | Nov. 27
|
| Settlement date: | Nov. 30
|
| Agents: | SG Americas Securities, LLC (lead); Countrywide Securities Corp.
|
| Fee: | 3.5% (maximum)
|
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