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SG Structured Products to price 24.2% ReConvs linked to Peabody
By Susanna Moon
Chicago, April 16 - SG Structured Products, Inc. plans to price 24.2% annualized ReConvs due July 30, 2008 linked to Peabody Energy Corp. common stock, according to a term sheet.
Interest will be payable quarterly.
At maturity, investors will receive par unless Peabody 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 Peabody shares equal to $1,000 divided by the initial share price.
The notes will price on April 25 and settle on April 30.
The company will issue up to $10 million of the securities.
SG Americas Securities, LLC is the agent, with Countrywide Securities Corp. as co-agent.
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