Published on 10/26/2010 in the Prospect News Structured Products Daily.
New Issue: Goldman Sachs prices $3.41 million additional notes linked to six currencies
By Angela McDaniels
Tacoma, Wash., Oct. 26 - Goldman Sachs Group, Inc. priced an additional $3.41 million principal amount of 0% currency-linked notes due Aug. 20, 2012 tied to the performance of a basket of currencies relative to the U.S. dollar, according to a 424B2 filing with the Securities and Exchange Commission.
The notes priced at 98.85 and bring the total principal amount of notes priced to $6.32 million. The original $2.91 million of notes priced at par on Oct. 13.
The basket includes equal weights of the Indian rupee, Indonesian rupiah, Turkish lira, Singapore dollar, Chilean peso and Swedish krona.
The payout at maturity will be par plus the greater of the basket performance and 13% if the basket appreciates relative to the U.S. dollar or remains flat. Investors will receive par if the basket depreciates by 15% or less and will lose 1.1765% for each 1% that it declines beyond 15%.
Goldman, Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Currency-linked notes
|
| Underlying currencies: | Indian rupee, Indonesian rupiah, Turkish lira, Singapore dollar, Chilean peso and Swedish krona, equally weighted
|
| Amount: | $6,316,000, increased from $2,905,000
|
| Maturity: | Aug. 20, 2012
|
| Coupon: | 0%
|
| Price: | Par for $2,905,000; 98.85 for $3,411,000
|
| Payout at maturity: | Par plus greater of 13% and basket return if basket appreciates relative to U.S. dollar or remains flat; par if basket falls by 15% or less; 1.1765% loss for each 1% decline beyond 15%
|
| Initial exchange rates: | 44.33 for rupee; 8,920 for rupiah; 1.405 for lira; 1.3022 for Singapore dollar; 474 for peso; 6.6279 for krona
|
| Pricing dates: | Oct. 13 for original issue; Oct. 22 for add-on
|
| Settlement dates: | Oct. 20 for original issue: Oct. 29 for add-on
|
| Underwriter: | Goldman, Sachs & Co.
|
| Fees: | 0.15%
|
| Cusip: | 38143UNK3
|
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