By Jennifer Chiou
New York, Jan. 10 - SG Structured Products Inc. priced $1.25 million of 10.25% ReConvs notes due Dec. 26, 2008 linked to JPMorgan Chase & Co. stock, according to a term sheet.
Interest is payable monthly.
If JPMorgan stock falls below the contingent protection level of $30.88, 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 $44.11 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.
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Issue: | ReConvs
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Underlying security: | JPMorgan Chase & Co. (Symbol: JPM)
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Amount: | $1.25 million
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Maturity: | Dec. 26, 2008
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Coupon: | 10.25%, payable monthly
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Price: | Par
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Payment at maturity: | If JPMorgan stock falls below the contingent protection level of $30.88 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 $44.11 initial price or equivalent in cash; otherwise par
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Initial price: | $44.11
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Contingent protection level: | $30.88, 70% of the initial level
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Pricing date: | Dec. 21
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Settlement date: | Dec. 28
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Agents: | Societe Generale (lead), Countrywide Securities Corp. (co-agent)
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Fees: | 3.5% (maximum)
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