Published on 1/15/2004 in the Prospect News Convertibles Daily.
New Issue: Goldman Sachs prices $9.3 million 7.375% notes exchangeable for Nokia
New York, Jan. 15 - The Goldman Sachs Group Inc. priced $9.3 million of 7.375% six-month notes mandatorily exchangeable for the ordinary shares of Nokia 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: | Nokia Corp.
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Amount: | $9.322 million
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Maturity: | July 15, 2004
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Coupon: | 7.375%, payable quarterly
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Price: | Par of $18.2965
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Exchange ratio: | 1, capped at €17.388 or 20% above initial price of €14.49, in cash or stock at Goldman's option, at maturity; uses floating exchange rate
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Pricing date: | Jan. 8
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Settlement date: | Jan. 15
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Underwriter: | Goldman, Sachs & Co.
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Distribution: | Off shelf
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