Published on 6/11/2013 in the Prospect News Structured Products Daily.
New Issue: Goldman Sachs sells $6.89 million notes tied to Mexican peso vs. dollar
By Marisa Wong
Madison, Wis., June 11 - Goldman Sachs Group, Inc. priced $6.89 million of 0% currency-linked notes due June 23, 2014 linked to the Mexican peso against the dollar, according to a 424B2 filing with the Securities and Exchange Commission.
If the currency return is greater than or equal to negative 10%, the payout at maturity will be par plus the greater of the currency return and 8.665%, subject to a maximum payment of $2,000 per $1,000 principal amount of notes.
Otherwise, investors will be fully exposed to losses.
Goldman Sachs & Co. is the underwriter with J.P. Morgan Securities LLC as placement agent.
Issuer: | Goldman Sachs Group, Inc.
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Issue: | Currency-linked notes
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Underlying currency: | Mexican peso against the dollar
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Amount: | $6.89 million
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Maturity: | June 23, 2014
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | If currency return is greater than or equal to negative 10%, par plus greater of currency return and 8.665%, up to maximum payout of $2,000 per note; if return is less than negative 10%, full exposure to losses
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Initial rate: | 12.72165
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Pricing date: | June 7
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Settlement date: | June 14
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Underwriter: | Goldman Sachs & Co. with J.P. Morgan Securities LLC as agent
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Fees: | 1.1%
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Cusip: | 38147QBJ4
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