Societe Generale to price 12% ReConvs linked to Apple

By Laura Lutz

Des Moines, Oct. 10 - Societe Generale, New York Branch plans to price 12% ReConvs due Oct. 31, 2008 linked to Apple Inc. common stock, according to a term sheet.

Societe Generale will issue up to $10 million of the securities.

Interest will be payable monthly.

At maturity, investors will receive par unless Apple stock falls below the knock-in price - 70% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Apple shares equal to par divided by the initial share price.

The notes will price on Oct. 26 and settle on Oct. 31.

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

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