New Issue: Goldman prices $5 million notes exchangeable for Cendant at Libor -200 bps, up 19.375%

New York, Sept. 20 - The Goldman Sachs Group Inc. priced $5 million of seven-year floating-rate notes mandatorily exchangeable for the common stock of Cendant Corp. to yield Libor minus 200 basis points with a 19.375% initial exchange premium, according to a 424B3 filing with the Securities and Exchange Commission.

Terms of the deal are as follows:

Issuer:	The Goldman Sachs Group Inc.
Issue:	Exchangeable medium-term notes
Underlying stock:	Cendant Corp.
Amount:	$5 million
Maturity:	Sept. 20, 2011
Coupon:	Libor minus 200 basis points (floor of 0%)
Price:	Par
Yield:	Libor minus 200 basis points (floor of 0%)
Exchange premium:	19.375% above reference price of $22.25
Exchange price:	$26.5609
Exchange ratio:	37.6493
Call:	Sept. 20, 2006 onwards at par, exchanges to stock if more valuable
Pricing date:	Sept. 13
Settlement date:	Sept. 20
Underwriter:	Goldman, Sachs & Co.
Distribution:	Off shelf

© 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.