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Societe Generale to price 36% Worst-of ReConvs linked to IndyMac, CVRD, Rambus
By Jennifer Chiou
New York, May 9 - Societe Generale, New York Branch plans to price 36% annualized Worst-of ReConvs due Aug. 30, 2007 linked to the common stocks of IndyMac Bancorp Inc., Companhia Vale do Rio Doce and Rambus Inc.
Payment at maturity is linked to the performance of the worst-performing stock.
Investors will receive par unless the worst-performing 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 shares equal to $1,000 divided by the initial share price.
The notes will price on May 29 and settle on May 30.
Societe Generale will be the underwriter.
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