By Laura Lutz
Des Moines, Nov. 5 - Societe Generale, New York Branch priced $5 million of 3% SynConvs notes due Nov. 10, 2011 linked to General Electric Co. stock, according to a term sheet.
Interest is payable semiannually.
Holders may convert the securities into General Electric stock at a conversion price of $41.03 per share, equivalent to an exchange ratio of 24.37.
The payout at maturity will be the exchange ratio times the final price of General Electric stock, subject to a floor of par.
The notes are callable from Nov. 10, 2009 through 10 trading days before the final valuation date, Nov. 3, 2011. The redemption amount will be the exchange ratio times the price of General Electric stock ten trading days after the notice of redemption.
Societe Generale Americas Securities is the agent.
| Issuer: | Societe Generale, New York Branch
|
| Issue: | SynConvs
|
| Underlying stock: | General Electric Co. (NYSE: GE)
|
| Amount: | $5 million
|
| Maturity: | Nov. 10, 2011
|
| Coupon: | 3%, payable semiannually
|
| Price: | Par
|
| Payment at maturity: | Exchange ratio times final stock price; floor of par
|
| Call: | From Nov. 10, 2009 through 10 trading days before Nov. 3, 2011; for exchange ratio times stock price ten trading days after redemption notice
|
| Initial price: | $34.77
|
| Conversion price: | $41.03, 118% of initial price
|
| Exchange ratio: | 24.37
|
| Pricing date: | Nov. 3
|
| Settlement date: | Nov. 10
|
| Agent: | Societe Generale Americas Securities
|
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