Published on 9/7/2007 in the Prospect News Structured Products Daily.
New Issue: Societe Generale sells $1 million 22.2% Worst-of ReConvs linked to CVRD, Petrobras, CSN
By Susanna Moon
Chicago, Sept. 7 - Societe Generale, New York Branch priced $1 million of 22.2% Worst-of ReConvs notes due Nov. 30, 2007 linked to American Depositary Shares of Companhia Vale do Rio Doce, Petróleo Brasileiro SA and Companhia Siderúrgica Nacional, according to a term sheet.
Interest is payable monthly.
Payment at maturity is linked to the performance of the worst-performing stock.
Investors will receive par unless the worst-performing 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 shares equal to $1,000 divided by the initial share price. Otherwise, the payout is par.
Societe Generale is lead agent with Countrywide Securities Corp. as co-agent.
| Issuer: | Societe Generale, New York Branch
|
| Issue: | ReConvs
|
| Underlying stocks: | American Depositary Shares of Companhia Vale do Rio Doce (NYSE: RIO), Petroleo Brasileiro SA (NYSE: PBR) and Companhia Siderurgica Nacional (NYSE: SID)
|
| Amount: | $1 million
|
| Maturity: | Nov. 30, 2007
|
| Coupon: | 22.2%, payable monthly
|
| Payment at maturity: | Par unless the worst-performing 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 shares equal to $1,000 divided by the initial share price
|
| Initial prices: | Companhia Vale do Rio Doce at $45.04, Petroleo Brasileiro SA at $56.78 and Companhia Siderurgica Nacional at $51.21
|
| Limit prices: | Companhia Vale do Rio Doce at $36.03, Petroleo Brasileiro SA at $45.42 and Companhia Siderurgica Nacional at $40.97
|
| Pricing date: | Aug. 28
|
| Settlement date: | Aug. 31
|
| Agents: | Societe Generale (lead), Countrywide Securities Corp. (co-agent)
|
| Fees: | 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.
