By Jennifer Chiou
New York, Jan. 2 - Societe Generale, New York Branch priced an issue of $1 million of 4% ReConvs notes due Dec. 27, 2007 linked to Google Inc., according to a term sheet.
If Google stock falls to or below the contingent protection level of $366.02, 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 $457.53 initial price, in stock or the equivalent in cash.
If Google stock finishes above the initial amount and does not fall below the contingent protection level, investors will receive par plus the lesser of double the gain on the stock or 12%.
Otherwise, the payout is par.
Countrywide Securities Corp. acted as distributor.
| Issuer: | Societe Generale, New York Branch
|
| Issue: | ReConvs
|
| Underlying security: | Google Inc.
|
| Amount: | $1 million
|
| Maturity: | Dec. 27, 2007
|
| Coupon: | 4%
|
| Payment at maturity: | If Google stock falls below the contingent protection level of $366.02 during the life of the notes and finishes below the initial price, payout will be $1,000 divided by the $457.53 initial price, in stock or equivalent in cash; if Google stock finishes above the initial level and does not fall below the contingent level, investors will receive the lesser of double the stock gain or 12%; otherwise par
|
| Initial price: | $457.53
|
| Contingent protection level: | $366.02, 80% of the initial level
|
| Pricing date: | Dec. 26
|
| Settlement date: | Dec. 27
|
| Agent: | Societe Generale
|
| Distributor: | Countrywide Securities Corp.
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
