Published on 4/3/2007 in the Prospect News Structured Products Daily.
New Issue: Societe Generale sells $750,000 20.5% ReConvs linked to JDS Uniphase
By Jennifer Chiou
New York, April 3 - Societe Generale, New York Branch priced $750,000 of 20.5% ReConvs notes due Sept. 28, 2007 linked to JDS Uniphase Corp. stock, according to a term sheet.
If JDS Uniphase stock falls to or below the contingent protection level of $12.10, 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 $15.12 initial price, in stock or the equivalent in cash.
Otherwise, the payout is par.
SG Americas Securities, LLC is principal agent with Countrywide Securities Corp. as agent.
Issuer: | Societe Generale, New York Branch
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Issue: | ReConvs
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Underlying security: | JDS Uniphase Corp.
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Amount: | $750,000
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Maturity: | Sept. 28, 2007
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Coupon: | 20.5%
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Payment at maturity: | If JDS Uniphase stock falls below the contingent protection level of $12.10 during the life of the notes and finishes below the initial price, payout will be $1,000 divided by the $15.12 initial price, in stock or equivalent in cash; otherwise par
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Initial price: | $15.12
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Contingent protection level: | $12.10, 80% of the initial level
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Pricing date: | March 29
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Settlement date: | March 30
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Agents: | SG Americas Securities, LLC, Countrywide Securities Corp.
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Fee: | 3.5% (maximum)
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