Published on 9/30/2013 in the Prospect News Structured Products Daily.
New Issue: Goldman Sachs prices $1.11 million variable-coupon notes linked to basket of 10 stocks
By Toni Weeks
San Luis Obispo, Calif., Sept. 30 - Goldman Sachs Group, Inc. priced $1.11 million of variable-coupon basket-linked notes due Sept. 30, 2020 linked to a basket of common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The equally weighted basket includes Apple Inc., AbbVie Inc., Amgen Inc., Cisco Systems, Inc., McDonald's Corp., Microsoft Corp., Philip Morris International Inc., UnitedHealth Group Inc., Verizon Communications Inc. and Wal-Mart Stores, Inc.
The notes will pay a coupon each year equal to the average of the basket stocks' performances, subject to a minimum of zero.
If a basket stock's return is zero or positive, its performance will be 7%. If a basket stock's return is negative, its performance will be the stock return, subject to a minimum stock return of negative 20%.
The payout at maturity will be par.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Variable-coupon notes
|
| Underlying stocks: | Apple Inc., AbbVie Inc., Amgen Inc., Cisco Systems, Inc., McDonald's Corp., Microsoft Corp., Philip Morris International Inc., UnitedHealth Group Inc., Verizon Communications Inc. and Wal-Mart Stores, Inc., equally weighted
|
| Amount: | $1,114,000
|
| Maturity: | Sept. 30, 2020
|
| Coupon: | Coupon paid annually in amount equal to average of basket stocks' stock performances
|
| Stock performance: | If a stock's return is zero or positive, its stock performance will be 7%; if a stock's return is negative, its stock performance will be greater of stock return and negative 20%
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | Sept. 26
|
| Settlement date: | Sept. 30
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 3.9%
|
| Cusip: | 38147QWE2
|
© 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.
