SocGen backing the return of credit

Société Générale Corporate and Investment Banking (SGCIB) has launched the SGA Series 15 Emerging Asia Retail Notes, a first-to-default credit-linked offering to retail investors in Singapore. The notes provide exposure to China, India, Korea, Thailand and Malaysia sovereign and quasi-sovereign bond markets.

The five-year notes, which are solely distributed by Standard Chartered Bank, offer the potential to receive a return of 16.5% (3.3% a year, payable semi-annually) and a 100% redemption price provided no credit event, no early redemption event and no exercise of the issuers’ call option occur during the product tenor. The issuer may redeem the notes at its sole discretion every six months at 103% of the principal amount plus accrued coupon up to the relevant interest payment date.

The sovereign