Societe Generale to price 17.2% Tempo ReConvs linked to Dynegy

By Jennifer Chiou

New York, May 9 - Societe Generale, New York Branch plans to price 17.2% annualized Tempo ReConvs due Nov. 30, 2007 linked to Dynegy Inc. common stock.

The notes will be automatically redeemed in whole if the closing price of Dynegy shares exceeds the initial share price on specified dates. The redemption price will be par plus accrued interest.

At maturity, investors will receive par unless Dynegy 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 Dynegy 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.

© 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.