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SG to price callable daily range accrual notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Aug. 6 - SG Structured Products, Inc. plans to price callable daily range accrual notes due Aug. 31, 2027 linked to the S&P 500 index, according to a term sheet. Societe Generale is the guarantor.
The interest rate will be the coupon rate multiplied by the proportion of days on which the S&P 500 closes at or above 975. The coupon rate will be 6% per year for coupon payment dates one through 20, 7% per year for coupon payment dates 21 through 40 and 8% per year for coupon payment dates 41 through 60. Interest will be payable quarterly.
The payout at maturity will be par.
After one year, the notes will be callable at par on any interest payment date.
The notes are expected to price Aug. 27 and settle Aug. 31.
SG Americas Securities, LLC is the agent. The distributor is Advisors Asset Management, Inc.
The Cusip number is 78423ECF9.
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