Published on 12/9/2003 in the Prospect News Convertibles Daily.
New Issue: Goldman Sachs prices $6 million 5.5% notes exchangeable for Cendant
New York, Dec. 9 - The Goldman Sachs Group Inc. priced $6 million of 5.5% nine-month notes that are mandatorily exchangeable for the common stock of Cendant Corp., according to a filing with the Securities and Exchange Commission.
Terms of the deal are as follows:
| Issuer: | The Goldman Sachs Group Inc.
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| Issue: | Mandatory exchangeable medium-term notes
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| Underlying stock: | Cendant Corp.
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| Amount: | $5.999 million
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| Maturity: | Sept. 9, 2004
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| Coupon: | 5.5%, payable quarterly
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| Price: | Par of $22.1576
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| Exchange ratio: | 1, capped at $25.4812 or 15% above initial price, in cash or stock at Goldman's option, at maturity
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| Pricing date: | Dec. 2
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| Settlement: | Dec. 9
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| Underwriter: | Goldman, Sachs & Co.
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| Distribution: | Off shelf
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