Published on 3/6/2007 in the Prospect News Structured Products Daily.
New Issue: Societe Generale prices $2.5 million 9% ReConvs linked to Sprint Nextel
By Jennifer Chiou
New York, March 6 - Societe Generale, New York Branch priced $2.5 million of 9% ReConvs notes due Feb. 28, 2008 linked to Sprint Nextel Corp. stock, according to a term sheet.
If Sprint Nextel stock falls to or below the contingent protection level of $14.76, 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 $18.45 initial price, in stock or the equivalent in cash.
Otherwise, the payout is par.
Countrywide Securities Corp. acted as distributor.
Issuer: | Societe Generale, New York Branch
|
Issue: | ReConvs
|
Underlying security: | Sprint Nextel Corp.
|
Amount: | $2.5 million
|
Maturity: | Feb. 28, 2008
|
Coupon: | 9%
|
Payment at maturity: | If Sprint Nextel stock falls below the contingent protection level of $14.76 during the life of the notes and finishes below the initial price, payout will be $1,000 divided by the $18.45 initial price, in stock or equivalent in cash; otherwise par
|
Initial price: | $18.45
|
Contingent protection level: | $14.76, 80% of the initial level
|
Pricing date: | Feb. 27
|
Settlement date: | Feb. 28
|
Distributor: | Countrywide Securities Corp.
|
Fees: | 3.5%
|
© 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.