By Jennifer Chiou
New York, Jan. 10 - SG Structured Products Inc. priced $2.25 million of 11% ReConvs notes due Dec. 26, 2008 linked to American International Group, Inc. stock, according to a term sheet.
Interest is payable monthly.
If AIG stock falls below the contingent protection level of $40.83, 70% of the initial level, during the life of the notes and the stock finishes below the initial share price, the payout will be a number of shares equal to par divided by the $58.33 initial price or the equivalent in cash.
Otherwise, the payout is par.
Societe Generale is lead agent with Countrywide Securities Corp. as co-agent.
| Issuer: | SG Structured Products Inc.
|
| Issue: | ReConvs
|
| Underlying security: | American International Group, Inc. (Symbol: AIG)
|
| Amount: | $2.25 million
|
| Maturity: | Dec. 26, 2008
|
| Coupon: | 11%, payable monthly
|
| Price: | Par
|
| Payment at maturity: | If AIG stock falls below the contingent protection level of $40.83 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 $58.33 initial price or equivalent in cash; otherwise par
|
| Initial price: | $58.33
|
| Contingent protection level: | $40.83, 70% of the initial level
|
| Pricing date: | Dec. 21
|
| Settlement date: | Dec. 28
|
| Agents: | Societe Generale (lead), Countrywide Securities Corp. (co-agent)
|
| Fees: | 3.5% (maximum)
|
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