Published on 9/7/2007 in the Prospect News Structured Products Daily.
New Issue: Societe Generale sells $1.5 million 15.75% ReConvs linked to Allegheny Technologies
By Susanna Moon
Chicago, Sept. 7 - Societe Generale, New York Branch priced $1.5 million of 15.75% ReConvs notes due Feb. 29, 2008 linked to Allegheny Technologies Inc. stock, according to a term sheet.
Interest is payable monthly.
If the stock falls to or below the limit price of $74.00, 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 $92.50 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: | Allegheny Technologies Inc. (NYSE: ATI)
|
Amount: | $1.5 million
|
Maturity: | Feb. 29, 2008
|
Coupon: | 15.75%, payable monthly
|
Payment at maturity: | If the stock falls below the limit price of $74.00 during the life of the notes and finishes below the initial price, payout will be $1,000 divided by the $92.50 initial price, in stock or equivalent in cash; otherwise par
|
Initial price: | $92.50
|
Limit price: | $74.00, 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)
|
© 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.