Published on 3/6/2007 in the Prospect News Structured Products Daily.
New Issue: Societe Generale sells $2.25 million 12.8% ReConvs linked to Consol Energy
By Laura Lutz
Washington, March 6 - Societe Generale, New York Branch priced $2.25 million of 12.8% ReConvs notes due Aug. 28, 2007 linked to Consol Energy Inc. stock, according to a term sheet.
If Consol Energy stock falls to or below the contingent protection level of $27.86, 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 $34.83 initial price, in stock or the equivalent in cash.
Otherwise, the payout is par.
SG Americas Securities, LLC is principal agent with Countrywide Securities Corp. as agent.
Issuer: | Societe Generale, New York Branch
|
Issue: | ReConvs
|
Underlying security: | Consol Energy Inc.
|
Amount: | $2.25 million
|
Maturity: | Aug. 28, 2007
|
Coupon: | 12.8%
|
Payment at maturity: | If Consol Energy stock falls below the contingent protection level of $27.86 during the life of the notes and finishes below the initial price, payout will be $1,000 divided by the $34.83 initial price, in stock or equivalent in cash; otherwise par
|
Initial price: | $34.83
|
Contingent protection level: | $27.86, 80% of the initial level
|
Pricing date: | Feb. 27
|
Settlement date: | Feb. 28
|
Agents: | SG Americas Securities, LLC, Countrywide Securities Corp.
|
Fee: | 3.5% (maximum)
|
© 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.