Published on 6/29/2010 in the Prospect News Structured Products Daily.
New Issue: Goldman Sachs sells $3.36 million 0% trigger notes linked to S&P 500
By Marisa Wong
Milwaukee, June 29 - Goldman Sachs Group, Inc. priced $3.36 million of 0% index-linked trigger notes due Jan. 6, 2012 based on the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A trigger event occurs if the index falls by more than 25% during the life of the notes.
If a trigger event does not occur, the payout at maturity will be par plus the greater of the index return and a contingent minimum return of 10.65%, up to the maximum settlement amount of $1,300 per $1,000 principal amount.
Otherwise, the payout at maturity will be par plus the index return, up to a cap of 30%. Investors will be exposed to any losses.
Goldman, Sachs & Co. is the underwriter with J.P. Morgan Securities Inc. as co-agent.
Issuer: | Goldman Sachs Group, Inc.
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Issue: | Index-linked trigger notes
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Underlying index: | S&P 500
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Amount: | $3,359,000
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Maturity: | Jan. 6, 2012
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index falls by more than 25% during life of notes, par plus index return, with exposure to losses; otherwise, par plus greater of index return and 10.65%; in either case, cap of 30%
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Initial index level: | 1,076.76
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Pricing date: | June 25
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Settlement date: | June 30
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Underwriter: | Goldman, Sachs & Co. with co-agent J.P. Morgan Securities Inc.
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Fees: | 1.4%
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Cusip: | 38143UKU4
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