Published on 6/22/2010 in the Prospect News Structured Products Daily.
New Issue: Goldman Sachs prices $3.05 million autocallable buffered notes linked to S&P 500
By Marisa Wong
Milwaukee, June 22 - Goldman Sachs Group, Inc. priced $3.05 million of 0% autocallable buffered index-linked notes due July 5, 2011 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above the initial index level on any of 12 monthly call observation dates, the notes will be automatically called at par plus an applicable call premium. The call premium will be 1% if the notes are called on the first observation date and will increase 1% on each subsequent observation date.
The call observation dates are July 26, Aug. 25, Sept. 27, Oct. 25, Nov. 26, Dec. 27, 2010, Jan. 25, 2011, Feb. 25, 2011, March 25, 2011, April 25, 2011, May 25, 2011 and June 27, 2011.
If the notes are not called and the final index level is at least 80% of the initial level, the payout at maturity will be par. Otherwise, investors will lose 1.25% for every 1% that the index declines beyond 20%.
Goldman, Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable buffered index-linked notes
|
| Underlying index: | S&P 500
|
| Amount: | $3.05 million
|
| Maturity: | July 5, 2011
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par if final index level is at least 80% of initial level; otherwise, 1.25% loss for every 1% decline beyond 20%
|
| Call: | At par plus call premium if index closes at or above initial level on any of 12 observation dates; call premium is 1% for first observation date and increases 1% for each subsequent observation date
|
| Observation dates: | July 26, Aug. 25, Sept. 27, Oct. 25, Nov. 26, Dec. 27, 2010, Jan. 25, 2011, Feb. 25, 2011, March 25, 2011, April 25, 2011, May 25, 2011 and June 27, 2011
|
| Initial index level: | 1,114.39
|
| Pricing date: | June 18
|
| Settlement date: | June 25
|
| Underwriter: | Goldman, Sachs & Co.
|
| Fees: | 0.1%
|
| Cusip: | 38145X202
|
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