Published on 8/12/2013 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $6.74 million contingent coupon autocallables linked to stock basket
By Angela McDaniels
Tacoma, Wash., Aug. 12 - Goldman Sachs Group, Inc. priced $6.74 million of autocallable contingent coupon notes due Aug. 22, 2016 linked to a basket of 20 common stocks and American Depositary Shares, according to a 424B2 filing with the Securities and Exchange Commission.
The equally weighted basket includes Agnico-Eagle Mines Ltd., AngloGold Ashanti Ltd., AuRico Gold Inc., Barrick Gold Corp., Coeur d'Alene Mines Corp., Compania de Minas Buenaventura SAA, Eldorado Gold Corp., First Majestic Silver Corp., Gold Fields Ltd., Goldcorp Inc., Harmony Gold Mining Co. Ltd., Iamgold Corp., Kinross Gold Corp., New Gold Inc., Newmont Mining Corp., Pan American Silver Corp., Randgold Resources Ltd., Royal Gold, Inc., Silver Wheaton Corp. and Yamana Gold Inc.
Each month, the notes will pay a coupon of $8.55 per $1,000 principal amount of notes if the basket closes at or above the trigger level, 70% of the initial level, on the determination date for that month.
Beginning Aug. 15, 2014, the notes will be called at par plus the coupon if the basket closes at or above the initial basket level on any quarterly review date.
If the notes have not been called and the basket finishes at or above the trigger level, the payout at maturity will be par plus the coupon. Otherwise, investors will lose 1.4286% for each 1% that the basket declines beyond 30%.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying stocks: | Agnico-Eagle Mines Ltd., AngloGold Ashanti Ltd., AuRico Gold Inc., Barrick Gold Corp., Coeur d'Alene Mines Corp., Compania de Minas Buenaventura SAA, Eldorado Gold Corp., First Majestic Silver Corp., Gold Fields Ltd., Goldcorp Inc., Harmony Gold Mining Co. Ltd., Iamgold Corp., Kinross Gold Corp., New Gold Inc., Newmont Mining Corp., Pan American Silver Corp., Randgold Resources Ltd., Royal Gold, Inc., Silver Wheaton Corp. and Yamana Gold Inc., equally weighted
|
| Amount: | $6,735,000
|
| Maturity: | Aug. 22, 2016
|
| Coupon: | $8.55 per $1,000 principal amount of notes if basket closes at or above trigger level on determination date for that month
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon if basket finishes at or above trigger level; otherwise, 1.4286% loss for each 1% that basket declines beyond 30%
|
| Call: | Beginning Aug. 15, 2014, notes will be called at par plus coupon if basket closes at or above initial basket level on any quarterly review date
|
| Pricing date: | Aug. 8
|
| Settlement date: | Aug. 15
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 0.83%
|
| Cusip: | 38147QMN3
|
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