New Issue: Societe Generale sells $500,000 11.25% ReConvs linked to Schlumberger

By Laura Lutz

Des Moines, Oct. 9 - Societe Generale, New York Branch priced $500,000 of 11.25% ReConvs notes due March 28, 2008 linked to Schlumberger Ltd. stock, according to a term sheet.

If Schlumberger stock falls to or below the contingent protection level of $83.70, 80% 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 par divided by the $104.62 initial price or the equivalent in cash.

Otherwise, the payout is par.

Societe Generale is lead agent with Countrywide Securities Corp. as co-agent.

Issuer:	Societe Generale, New York Branch
Issue:	ReConvs
Underlying security:	Schlumberger Ltd. (Symbol: SLB)
Amount:	$500,000
Maturity:	March 28, 2008
Coupon:	11.25%, payable monthly
Payment at maturity:	If Schlumberger stock falls below the contingent protection level of $83.70 during the life of the notes and finishes below the initial price, payout will be a number of shares equal to par divided by the $104.62 initial price or equivalent in cash; otherwise par
Initial price:	$104.62
Contingent protection level:	$83.70, 80% of the initial level
Pricing date:	Sept. 25
Settlement date:	Sept. 28
Agents:	Societe Generale (lead), Countrywide Securities Corp. (co-agent)
Fee:	3.5% (maximum)

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