New Issue: Societe Generale sells $1 million 11.5% ReConvs linked to Texas Instruments

By Susanna Moon

Chicago, Sept. 7 - Societe Generale, New York Branch priced $1 million of 11.5% ReConvs notes due Aug. 29, 2008 linked to Texas Instruments Inc. stock, according to a term sheet.

Interest is payable monthly.

If the stock falls to or below the limit price of $26.74, or 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 $33.42 initial price, in stock or the equivalent in cash.

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 stock:	Texas Instruments Inc. (NYSE: TXN)
Amount:	$1 million
Maturity:	Aug. 29, 2008
Coupon:	11.5%, payable monthly
Payment at maturity:	If the stock falls below the limit price of $26.74 during the life of the notes and finishes below the initial price, payout will be $1,000 divided by the $33.42 initial price, in stock or equivalent in cash; otherwise par
Initial price:	$33.42
Limit price:	$26.74, or 80% of the initial level
Pricing date:	Aug. 28
Settlement date:	Aug. 31
Agents:	Societe Generale (lead), Countrywide Securities Corp. (co-agent)
Fees:	3.5% (maximum)

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