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Societe Generale to price 14.5% ReConvs linked to Suntech Power ADRs
By Laura Lutz
Washington, March 8 - Societe Generale, New York Branch plans to price 14.5% ReConvs due March 28, 2008 linked to American Depositary Receipts representing Suntech Power Holdings Co. Ltd. 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 Suntech Power ADRs fall below the knock-in price - 70% of the initial share price - during the life of the notes and finish below the initial share price, in which case the payout will be a number of Suntech Power ADRs equal to $1,000 divided by the initial share price.
The notes will price on March 29 and settle on March 30.
Societe Generale will issue up to $10 million of the securities.
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