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Societe Generale plans range accrual notes linked to Libor, Russell
By Angela McDaniels
Tacoma, Wash., April 4 - Societe Generale plans to price callable range accrual notes due April 19, 2028 linked to six-month Libor and the Russell 2000 index, according to a term sheet.
The interest rate will be 6% multiplied by the proportion on days on which six-month Libor is 6% or less and the index closes at or above the barrier level, which will be 75% of the initial index level. Interest will be payable quarterly.
The payout at maturity will be par.
One year after issuance, the notes will be callable at par on any interest payment date.
Morgan Stanley & Co., LLC is the agent. Advisors Asset Management, Inc. is distributor.
The notes will price April 16 and settle April 19.
The Cusip number is 83368WCC3.
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