Crossword Genius

Finally, see Norman has some debts. Shocking (9)

Ross

I believe the answer is:

egregious

I'm a little stuck... Click here to teach me more about this clue!

'shocking' is the definition.
(I've seen this before)

'finally see norman has some debts' is the wordplay.
'finally' suggests the final letters.
'norman has' becomes 'greg' (I can't explain this - if you can you should give a lot more credence to this answer).
'some debts' becomes 'IOUs' (promises to pay debts).
The last letter of 'see' is 'e'.
'e'+'greg'+'ious'='EGREGIOUS'

Can you help me to learn more?

(Other definitions for egregious that I've seen before include "Notorious" , "Outstandingly villainous" , "Shocking" , "Intolerable" , "Extraordinary" .)

I've seen this clue in the Sydney Morning Herald.
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