By Toni Weeks
San Diego, May 30 - Goldman Sachs Group, Inc. priced $1.18 million of 0% absolute return knock-out notes due May 30, 2014 linked to the common stock of JPMorgan Chase & Co., according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event will occur if JPMorgan shares decline during the life of the notes by more than the 50% knock-out amount.
If a knock-out event has occurred, the payout at maturity will be par plus the stock return, subject to the maximum upside settlement amount of $1,610 per $1,000 principal amount of notes.
If a knock-out event has not occurred and the final price is greater than or equal to the initial price, the payout will be par plus the stock return, subject to the maximum upside settlement.
If a knock-out event has not occurred and the stock return is negative, the payout will be par plus the absolute value of the stock return.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Absolute return knock-out notes
|
| Underlying stock: | JPMorgan Chase & Co. (Symbol: JPM)
|
| Amount: | $1.18 million
|
| Maturity: | May 30, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If share price never falls below 50% of initial price during life of notes and stock return is zero or positive, par plus stock return; if share price never falls below knock-out level and stock return is negative, par plus absolute value of stock return; if knock-out event occurs, par plus stock return; maximum payment is $1,610 per $1,000 principal amount
|
| Initial price: | $33.50
|
| Knock-out amount: | 50% of initial share price
|
| Pricing date: | May 25
|
| Settlement date: | May 31
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 2.15%, of which 2% is for selling concessions
|
| Cusip: | 38143UV65
|
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