By Angela McDaniels
Tacoma, Wash., July 10 - Goldman Sachs Group, Inc. priced $2.45 million of 0% trigger notes due July 24, 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index declines by more than 20% during the life of the notes, the payout at maturity will be par plus the index return. If the index return is negative in this scenario, investors will receive less than par.
If the index does not decline by more than 20% during the life of the notes, the payout at maturity will be par plus the greater of the index return and 8%.
In each case, the payout will be subject to a maximum settlement amount of $1,150 per $1,000 principal amount of notes.
Goldman Sachs & Co. is the underwriter with J.P. Morgan Securities LLC as dealer.
Issuer: | Goldman Sachs Group, Inc.
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Issue: | Trigger notes
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Underlying index: | S&P 500
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Amount: | $2,454,000
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Maturity: | July 24, 2013
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index declines by more than 20% during life of notes, par plus index return, with exposure to any losses; otherwise, par plus greater of index return and 8%; return capped at 15% in each case
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Initial index level: | 1,354.68
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Pricing date: | July 6
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Settlement date: | July 11
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Underwriter: | Goldman Sachs & Co.
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Dealer: | J.P. Morgan Securities LLC
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Fees: | 1.1%
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Cusip: | 38143U4N8
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