Societe Generale to price 9% ReConvs linked to Sprint Nextel

By Laura Lutz

Washington, Feb. 6 - Societe Generale, New York Branch plans to price 9% ReConvs due Feb. 28, 2008 linked to Sprint Nextel Corp. common stock via Societe Generale, according to a term sheet.

Countrywide Securities Corp. is the distributor.

Interest will be payable quarterly.

At maturity, investors will receive par unless Sprint Nextel stock falls below the knock-in price - 80% 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 Sprint Nextel shares equal to $1,000 divided by the initial share price.

The notes will price on Feb. 23 and settle on Feb. 28.

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

© 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.