By Jennifer Chiou
New York, May 3 - Goldman Sachs Group, Inc. priced $14 million of floating-rate notes due Aug. 22, 2011 linked to the modified S&P Diversified Trends Indicator - Total Return, according to a 424B2 filing with the Securities and Exchange Commission.
The index is a version of the S&P Diversified Trends Indicator - Total Return, which is an index of futures contracts on physical commodities and financial instruments, modified according to a methodology developed by Goldman Sachs.
Interest is payable quarterly. It accrues daily at a rate equal to Libor minus 20 basis points, with a floor of zero.
The payout at maturity will be par plus triple the sum of the index return minus the realized Treasury bill amount and minus a fee of 1.5% per year. The Treasury bill amount will be the sum of the 91-day weekly auction high rates for U.S. Treasury bills for each day during the life of the notes.
The notes will be automatically called if the index closes at or below 85% of its initial level, and the notes are putable if requested by all holders. In both instances, the redemption amount will be determined in the same manner as the payout at maturity.
The underwriter is Goldman, Sachs & Co.
Issuer: | Goldman Sachs Group, Inc.
|
Issue: | Floating-rate notes
|
Underlying index: | S&P Diversified Trends Indicator - Total Return, as modified by Goldman Sachs
|
Amount: | $14 million
|
Maturity: | Aug. 22, 2011
|
Coupon: | Libor minus 20 bps, payable quarterly
|
Price: | Par
|
Payout at maturity: | Par plus triple the sum of the index return minus the realized Treasury bill amount and minus a fee of 1.5% per year
|
Call: | Automatically if index closes at or below 85% of initial level
|
Put option: | If requested by all holders
|
Initial index level: | 1,482.869
|
Pricing date: | April 29
|
Settlement date: | May 6
|
Underwriter: | Goldman, Sachs & Co.
|
Fees: | 0.1%
|
Cusip: | 38143UJF9
|
© 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.