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Societe Generale to price 9.5% ReConvs linked to Occidental Petroleum
By Jennifer Chiou
New York, May 9 - Societe Generale, New York Branch plans to price 9.5% annualized ReConvs due Nov. 30, 2007 linked to Occidental Petroleum Corp. common stock.
Interest will be payable quarterly.
At maturity, investors will receive par unless Occidental Petroleum stock falls below the knock-in price - 85% 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 Occidental Petroleum 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 is the underwriter.
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