Societe Generale to price 8% reverse convertibles linked to Alibaba

By Angela McDaniels

Tacoma, Wash., Nov. 7 – Societe Generale plans to price reverse convertible notes due May 14, 2015 linked to the common stock of Alibaba Group Holding Ltd., according to a term sheet.

The six-month notes will carry a coupon of 8% per year. Interest will be payable monthly.

The payout at maturity will be par unless Alibaba shares close below the downside limit price, 75% of the initial share price, on any day during the life of the notes and the final share price is less than the initial share price, in which case investors will receive a number of Alibaba shares equal to $1,000 divided by the initial share price.

SG Americas Securities, LLC is the agent.

The notes are expected to price Nov. 11 and settle Nov. 14.

The Cusip number is 83368WXS5.

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