Published on 11/7/2006 in the Prospect News Structured Products Daily.
New Issue: Societe Generale prices $1.05 million 10.2% reverse convertibles linked to Dell
By Jennifer Chiou
New York, Nov. 7 - Societe Generale, New York Branch priced a $1.05 million issue of 10.2% ReConvs due April 30, 2007 linked to Dell Inc. stock via Societe Generale, according to a term sheet.
Countrywide Securities Corp. was the distributor.
Payout at maturity will be par in cash unless Dell stock falls below the barrier price of $18.46 during the life of the notes and finishes below its initial price on the valuation day, April 24, 2007, in which case payout will be a number of Dell shares equal to $1,000 divided by the initial share price.
Issuer: | Societe Generale, New York Branch
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Issue: | ReConvs
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Underlying stock: | Dell Inc.
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Amount: | $1.05 million
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Maturity: | April 30, 2007
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Coupon: | 10.2%, paid quarterly
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Price: | Par
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Payout at maturity: | If Dell stock falls below $18.46 during the life of the notes and finishes below its initial price, shares of Dell stock equal to $1,000 divided by the initial price; otherwise, par in cash
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Initial share price: | $23.08
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Barrier price: | $18.46, 80% of initial share price
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Pricing date: | Oct. 30
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Settlement date: | Oct. 31
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Agent: | Societe Generale
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Distributor: | Countrywide Securities Corp.
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