Published on 12/13/2006 in the Prospect News Structured Products Daily.
New Issue: Societe Generale sells $1.5 million 11.8% ReConvs linked to EOG
By Laura Lutz
Washington, Dec. 13 - Societe Generale, New York Branch priced $1.5 million of 11.8% ReConvs notes due May 30, 2007 linked to EOG Resources, Inc. stock, according to a term sheet.
If EOG stock falls to or below the contingent protection level of $57.65, 80% of the initial level, during the life of the notes and the stock finishes below the initial share price, the payout will be $1,000 divided by the $72.06 initial price, in stock (13 shares plus fractions in cash) or the equivalent in cash.
Otherwise, payout is par.
Countrywide Securities Corp. acted as distributor.
Issuer: | Societe Generale, New York Branch
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Issue: | ReConvs
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Underlying security: | EOG Resources, Inc.
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Amount: | $1.5 million
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Maturity: | May 30, 2007
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Coupon: | 11.8%
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Payment at maturity: | If EOG stock falls below the contingent protection level of $57.65 during the life of the notes and finishes below the initial price, payout will be $1,000 divided by the $72.06 initial price, in stock (13 shares plus fractions in cash) or equivalent in cash; otherwise par
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Initial price: | $72.06
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Contingent protection level: | $57.65, 80% of the initial level
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Pricing date: | Nov. 29
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Settlement date: | Nov. 30
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Agent: | Societe Generale
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Distributor: | Countrywide Securities Corp.
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