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Goldman Sachs to price autocallable notes linked to S&P MidCap 400
By Marisa Wong
Milwaukee, April 6 - Goldman Sachs Group, Inc. plans to price 0% autocallable index-linked notes due July 21, 2011 linked to the S&P MidCap 400 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at $1,070 for each $1,000 principal amount if the index closes at or above 107% of its initial level on Monday of any week beginning April 19.
If the notes are not called and the index closes below 80% of its initial level on any day during the life of the notes, the payout at maturity will be par plus the index return, which could be positive or negative. Otherwise, the payout will be par plus any index gain, with a floor of par. In either case, the maximum return is 7%.
The notes are expected to price April 7 and settle April 12.
Goldman, Sachs & Co. is the underwriter with J.P. Morgan Securities Inc. as co-agent.
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