Societe Generale to price 24% ReConvs linked to IndyMac

By Jennifer Chiou

New York, July 13 - Societe Generale, New York Branch plans to price 24% annualized ReConvs due Jan. 31, 2008 linked to IndyMac Bancorp, Inc. common stock via Societe Generale, according to a term sheet.

Countrywide Securities Corp. is the distributor.

Interest will be payable monthly.

At maturity, investors will receive par unless IndyMac 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 IndyMac shares equal to $1,000 divided by the initial share price.

The notes will price on July 26 and settle on July 31.

Societe Generale will issue up to $10 million of the securities.

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