By Marisa Wong
Madison, Wis., March 22 - Goldman Sachs Group, Inc. priced $31.2 million of 0% exchangeable equity-linked notes due March 28, 2016 linked to the common stock of Google Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The exchange value on any day equals the closing price of Google stock on that day times an exchange rate of 1.3102.
At maturity, investors will receive an amount in cash equal to the arithmetic average of the averaging date prices on the three trading days ending March 22, 2016. The averaging date price for each of those days is equal to the greater of the exchange value on that day and $1,000.
Investors may elect to exchange their notes in whole or in part at any time for a number of Google shares equal to the exchange rate for each $1,000 of notes or, at the issuer's option, the exchange value in cash. Investors may receive less than par.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Exchangeable equity-linked notes
|
| Underlying stock: | Google Inc. (Symbol: GOOG)
|
| Amount: | $31.2 million
|
| Maturity: | March 28, 2016
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | An amount in cash equal to the arithmetic average of the averaging date prices on the three trading days ending March 22, 2016
|
| Exchange rate; | 1.3102
|
| Initial price: | $562.244
|
| Pricing date: | March 18
|
| Settlement date: | March 25
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 0.35%
|
| Cusip: | 38143UTC5
|
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