Published on 11/7/2006 in the Prospect News Structured Products Daily.
New Issue: Societe Generale prices $3 million 16.25% reverse convertibles linked to Spectrum Brands
By Jennifer Chiou
New York, Nov. 7 - Societe Generale, New York Branch priced a $3 million issue of 16.25% ReConvs due Oct. 24, 2007 linked to Spectrum Brands, 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 Spectrum Brands stock falls below the barrier price of $6.04 during the life of the notes and finishes below its initial price on the valuation day, Oct. 18, 2007, in which case payout will be a number of Spectrum Brands shares equal to $1,000 divided by the initial share price.
Issuer: | Societe Generale, New York Branch
|
Issue: | ReConvs
|
Underlying stock: | Spectrum Brands, Inc.
|
Amount: | $3 million
|
Maturity: | Oct. 24, 2007
|
Coupon: | 16.25%, paid quarterly
|
Price: | Par
|
Payout at maturity: | If Spectrum Brands stock falls below $6.04 during the life of the notes and finishes below its initial price, shares of Spectrum Brands stock equal to $1,000 divided by the initial price; otherwise, par in cash
|
Initial share price: | $10.07
|
Barrier price: | $6.04, 60% of initial share price
|
Pricing date: | Oct. 30
|
Settlement date: | Oct. 31
|
Agent: | Societe Generale
|
Distributor: | Countrywide Securities Corp.
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.