Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers S > Headlines for Societe Generale, New York Branch > News item |
Societe Generale to price 11.75% ReConvs linked to Lennar
By Jennifer Chiou
New York, July 13 - Societe Generale, New York Branch plans to price 11.75% ReConvs due July 31, 2008 linked to Lennar Corp. common stock via Societe Generale, according to a term sheet.
Countrywide Securities Corp. is the distributor.
Interest will be payable monthly.
At maturity, investors will receive par unless Lennar 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 Lennar shares equal to $1,000 divided by the initial share price.
The notes will price on July 26 and settle on July 31.
Societe Generale will issue up to $10 million of the securities.
© 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.