Goldman to price currency-linked notes tied to Indian rupee vs. euro

By Marisa Wong

Madison, Wis., March 10 – Goldman Sachs Group, Inc. plans to price 0% currency-linked notes due Sept. 16, 2016 linked to the Indian rupee relative to the euro, according to a 424B2 filing with the Securities and Exchange Commission.

If the currency return is zero or positive, the payout at maturity will be par plus the greater of the return or $145 per $1,000 principal amount of notes.

If the currency return is at or above negative 15%, the payout will be par plus 14.5%.

Investors will be fully exposed to the decline in the exchange rate if it falls by more than 15%.

The final exchange rate will be the average of the exchange rates on the five trading days ending Sept. 13, 2016.

Goldman Sachs & Co. is the underwriter with JPMorgan as placement agent.

The notes will price on March 13 and settle on March 20.

The Cusip number is 38147QWU6.

© 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.