Published on 7/21/2005 in the Prospect News Biotech Daily and Prospect News Convertibles Daily.
New Issue: Goldman Sachs prices $100 million 6.25% notes mandatorily exchangeable for Wyeth
By Jennifer Chiou
New York, July 21 - The Goldman Sachs Group, Inc. priced $100 million of 6.25% mandatory exchangeable notes due July 31, 2006 exchangeable for the common stock of Wyeth, according to a 424B3 filing with the Securities and Exchange Commission.
Wyeth is a Madison, N.J., company that develops and sells pharmaceuticals, vaccines and biotechnology products.
| Issuer: | The Goldman Sachs Group, Inc.
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| Issue: | Mandatorily exchangeable series B medium-term notes
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| Underlying stock: | Wyeth
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| Amount: | $100,002,500
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| Maturity: | July 31, 2006, unless extended up to six days
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| Coupon: | 6.25%, payable quarterly
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| Price: | Par of $45.25
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| Exchange ratio: | 1, capped at $49.775, equivalent to 110% of stock price at issue
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| Threshold price: | $49.775
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| Lead manager: | Goldman, Sachs & Co.
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| Pricing date: | July 15
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| Settlement: | July 22
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