By Angela McDaniels
Tacoma, Wash., May 23 - Goldman Sachs Group, Inc. priced $3.94 million of 0% leveraged currency-linked notes due Nov. 29, 2013 linked to the Chinese renminbi, according to a 424B2 filing with the Securities and Exchange Commission.
By purchasing this note, investors take the view that the renminbi will appreciate in value against the dollar.
If the currency return is positive, the payout at maturity will be par plus 2.25 times the currency return. If the currency return is negative, investors will be exposed to the decline, subject to a minimum payout of 98% of par.
Goldman Sachs & Co. is the underwriter, and J.P. Morgan Securities LLC is dealer.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Leveraged currency-linked notes
|
| Underlying currency: | Chinese renminbi relative to dollar
|
| Amount: | $3,939,000
|
| Maturity: | Nov. 29, 2013
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If currency return is positive, par plus 2.25 times currency return; exposure to decline if currency return is negative but not below negative 2%; 98% of par if currency return is less than negative 2%
|
| Initial exchange rate: | 6.3116 renminbi per dollar
|
| Pricing date: | May 21
|
| Settlement date: | May 29
|
| Underwriter: | Goldman Sachs & Co.
|
| Dealer: | J.P. Morgan Securities LLC
|
| Fees: | 1.15%
|
| Cusip: | 38143UV57
|
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