New Issue: Societe Generale sells $1 million 21.25% ReConvs linked to IndyMac

By Susanna Moon

Chicago, Oct. 9 - Societe Generale, New York Branch priced $1 million of 21.25% ReConvs notes due Dec. 28, 2007 linked to IndyMac Bancorp., Inc. stock, according to a term sheet.

Interest is payable monthly.

If the stock falls to or below the limit price of $15.69 - 70% of the initial level - during the life of the notes and the stock finishes below the initial share price, the payout will be a number of shares equal to $1,000 divided by the $22.41 initial price or the equivalent in cash.

Otherwise, the payout is par.

Societe Generale is principal agent with Countrywide Securities Corp. as agent.

Issuer:	Societe Generale, New York Branch
Issue:	ReConvs
Underlying stock:	IndyMac Bancorp., Inc. (NYSE: IMB)
Amount:	$1 million
Maturity:	Dec. 28, 2007
Coupon:	21.25%, payable monthly
Price:	Par
Payment at maturity:	If the stock falls below the limit price of $15.69 during the life of the notes and finishes below the initial price, payout will be a number of shares equal to $1,000 divided by the $22.41 initial price or equivalent in cash; otherwise par
Initial price:	$22.41
Limit price:	$15.69, or 70% of the initial level
Pricing date:	Sept. 25
Settlement date:	Sept. 28
Agents:	Societe Generale (lead), Countrywide Securities Corp. (co-agent)

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