Societe Generale to price 9.5% ReConvs linked to Cemex

By Laura Lutz

Washington, Dec. 5 - Societe Generale, New York Branch plans to price an issue of 9.5% ReConvs due Dec. 27, 2007 linked to American Depositary Receipts sponsored by Cemex SA de CV via Societe Generale, according to a term sheet.

Each ADR represents 10 ordinary participation certificates, each of which represent two series A shares and one series B share of Cemex.

Countrywide Securities Corp. is the distributor.

Interest will be payable quarterly.

At maturity, investors will receive par unless the ADRs fall below the knock-in price - 80% of their initial price - during the life of the notes and finish below the initial share price, in which case the payout will be a number of Cemex ADRs equal to $1,000 divided by the initial price.

The notes will price on Dec. 26 and settle on Dec. 27.

Societe Generale will issue up to $10 million of the securities.

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