Published on 3/9/2006 in the Prospect News Convertibles Daily.
New Issue: Goldman Sachs prices $15 million 6% notes linked to offshore oil drilling basket
By Angela McDaniels
Seattle, March 9 - The Goldman Sachs Group Inc. priced $15 million of 6% mandatory exchangeable notes due Sept. 11, 2006 linked to the performance of a basket of offshore oil drilling stocks, according to a 424B3 filing with the Securities and Exchange Commission.
The underlying basket is made up of the common stock of Ensco International Inc. and Rowan Cos. Inc. and the ordinary shares of GlobalSantaFe Corp. and Transocean Inc., equally weighted.
At maturity, investors will receive the basket of stocks, but with the increase in value of each stock capped at 25%.
| Issuer: | The Goldman Sachs Group, Inc.
|
| Issue: | Basket-linked mandatory exchangeable medium-term series B notes
|
| Underlying stocks: | ENSCO International Inc., GlobalSantaFe Corp., Rowan Cos. Inc., Transocean Inc., equally weighted
|
| Amount: | $15 million
|
| Maturity: | Sept. 11, 2006, unless extended up to six days
|
| Coupon: | 6%
|
| Price: | Par of $100.00
|
| Initial stock prices: | ENSCO International Inc., $47.180 per share; GlobalSantaFe Corp., $57.824 per share; Rowan Cos. Inc., $41.870 per share; Transocean Inc., $79.180 per share
|
| Determination date: | Fifth trading day prior to Sept. 11, 2006, unless extended for up to five business days
|
| Payout at maturity: | Underlying basket of stocks with equal weighting, subject to threshold appreciation cap
|
| Threshold appreciation cap: | Initial stock prices times 1.25: ENSCO International Inc., $58.9750 per share; GlobalSantaFe Corp., $72.2800 per share; Rowan Cos. Inc., $52.3375 per share; Transocean Inc., $98.9750 per share
|
| Pricing date: | March 2
|
| Settlement date: | March 9
|
| Agent: | Goldman, Sachs & Co.
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
