By Susanna Moon
Chicago, Oct. 9 - Societe Generale, New York Branch priced $1 million of 21.5% Tempo ReConvs notes due March 28, 2008 linked to Toll Brothers, Inc. stock, according to a term sheet.
If the stock falls to or below the limit price of $13.97, or 70% of the initial level, during the life of the notes and the stock finishes below the $19.96 initial share price, the payout will be a number of shares equal to $1,000 divided by the initial price or the equivalent in cash.
Otherwise, the payout is par.
Interest will be payable Dec. 28, 2007 and upon maturity.
The notes will be automatically redeemed in whole if the closing price of the stock exceeds the initial share price of $19.96 on Dec. 28. The redemption price will be par plus accrued interest.
Societe Generale is lead agent with Countrywide Securities Corp. as co-agent.
| Issuer: | Societe Generale, New York Branch
|
| Issue: | Tempo ReConvs
|
| Underlying stock: | Toll Brothers, Inc. (NYSE: TOL)
|
| Amount: | $1 million
|
| Maturity: | March 28, 2008
|
| Coupon: | 21.5%
|
| Payment at maturity: | If the stock falls below the limit price of $13.97 during the life of the notes and finishes below the $19.96 initial price, payout will be a number of shares equal to $1,000 divided by the initial price or the equivalent in cash; otherwise par
|
| Initial price: | $19.96
|
| Limit price: | $13.97, or 70% of the initial level
|
| Call: | Automatically redeemed for par plus accrued interest if the closing price of the stock exceeds the initial share price of $19.96 on Dec. 28
|
| Pricing date: | Sept. 25
|
| Settlement date: | Sept. 28
|
| Agents: | Societe Generale (lead), Countrywide Securities Corp. (co-agent)
|
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