Published on 8/31/2010 in the Prospect News Structured Products Daily.
New Issue: Goldman Sachs prices $3.15 million autocallable buffered notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Aug. 31 - Goldman Sachs Group, Inc. priced $3.15 million of autocallable buffered index-linked notes due April 11, 2011 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 1.13% if the index closes at or above the initial index level on Oct. 4, Nov. 3, Dec. 3, Jan. 3, Feb. 3, March 3, 2011 or April 4, 2011.
If the notes are not called on a call observation date and the level of the index on that date is at least 85% of the initial index level, investors will receive a coupon payment of 1.13%.
If the notes are not called and the final index level is at least 85% of the initial level, the payout at maturity will be par. Otherwise, investors will lose 1.1765% for every 1% that the index declines beyond 15%.
Goldman, Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable buffered index-linked notes
|
| Underlying index: | S&P 500
|
| Amount: | $3,153,000
|
| Maturity: | April 11, 2011
|
| Coupon: | 1.13%, payable for each month that the index is at or above 85% of the initial index level but below the initial level
|
| Price: | Par
|
| Payout at maturity: | Par if final index level is at least 85% of initial level; otherwise, 1.1765% loss for every 1% decline beyond 15%
|
| Call: | At par plus 1.13% if index closes at or above initial level on Oct. 4, Nov. 3, Dec. 3, Jan. 3, Feb. 3, March 3, 2011 or April 4, 2011
|
| Initial index level: | 1,048.75
|
| Pricing date: | Aug. 27
|
| Settlement date: | Sept. 3
|
| Underwriter: | Goldman, Sachs & Co.
|
| Fees: | 0.05%
|
| Cusip: | 38145X517
|
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