Published on 1/3/2007 in the Prospect News Structured Products Daily.
New Issue: Societe Generale sells $1.25 million 12% ReConvs linked to Citrix Systems
By Jennifer Chiou
New York, Jan. 2 - Societe Generale, New York Branch priced $1.25 million of 12% ReConvs notes due Dec. 27, 2007 linked to Citrix Systems, Inc. stock, according to a term sheet.
If Citrix Systems stock falls to or below the contingent protection level of $21.46, 80% of the initial level, during the life of the notes and the stock finishes below the initial share price, the payout will be $1,000 divided by the $26.82 initial price, in stock or the equivalent in cash.
Otherwise, the payout is par.
Countrywide Securities Corp. acted as distributor.
Issuer: | Societe Generale, New York Branch
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Issue: | ReConvs
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Underlying security: | Citrix Systems, Inc.
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Amount: | $1.25 million
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Maturity: | Dec. 27, 2007
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Coupon: | 12%
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Payment at maturity: | If Citrix Systems stock falls below the contingent protection level of $21.46 during the life of the notes and finishes below the initial price, payout will be $1,000 divided by the $26.82 initial price, in stock or equivalent in cash; otherwise par
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Initial price: | $26.82
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Contingent protection level: | $21.46, 80% of the initial level
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Pricing date: | Dec. 26
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Settlement date: | Dec. 27
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Agent: | Societe Generale
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Distributor: | Countrywide Securities Corp.
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