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Societe Generale to price 12% ReConvs linked to Research In Motion
By Jennifer Chiou
New York, Nov. 6 - Societe Generale, New York Branch plans to price an issue of 12% ReConvs due Nov. 30, 2007 linked to Research In Motion Ltd. 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 Research In Motion stock falls below the knock-in price - 70% 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 Research In Motion shares equal to $1,000 divided by the initial share price.
The notes will price on Nov. 29 and settle on Nov. 30.
Societe Generale will issue up to $10 million of the securities.
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