Published on 5/13/2014 in the Prospect News Structured Products Daily.
New Issue: Goldman Sachs prices $6.12 million notes linked to currencies vs. euro
By Angela McDaniels
Tacoma, Wash., May 13 - Goldman Sachs Group, Inc. priced $6.12 million of 0% currency-linked notes due May 16, 2017 linked to the performance of a basket of four currencies relative to the euro, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes equal weights of the Indian rupee, the Indonesian rupiah, the Turkish lira and the South African rand.
For each currency, the final exchange rate will be the average of the exchange rates of that currency on each of the five trading days ending May 9, 2017.
If the basket return is positive, the payout at maturity will be par plus 236% of the basket return, subject to a maximum payment of $3,360 per $1,000 principal amount of notes. If the basket return is zero or negative, the payout will be par.
Goldman Sachs & Co. is the underwriter. J.P. Morgan Securities LLC is the placement agent.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Currency-linked notes
|
| Underlying currencies: | Indian rupee, Indonesian rupiah, Turkish lira and South African rand, equally weighted and measured relative to euro
|
| Amount: | $6,122,000
|
| Maturity: | May 16, 2017
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If basket return is positive, par plus 236% of basket return, subject to maximum payment of $3,360 per $1,000 principal amount of notes; if basket return is zero or negative, par
|
| Initial exchange rates: | 82.61329 for rupee; 15,906.64095 for rupiah; 2.86266 for lira; 14.28922 for rand
|
| Final exchange rates: | For each currency, average of exchange rates of that currency on each of five trading days ending May 9, 2017
|
| Pricing date: | May 9
|
| Settlement date: | May 16
|
| Underwriter: | Goldman Sachs & Co.
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.75%
|
| Cusip: | 38147Q5P7
|
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