By Toni Weeks
San Luis Obispo, Calif., Oct. 16 - Goldman Sachs Group, Inc. priced $3.98 million of 0% currency-linked notes due Oct. 28, 2014 linked to the Brazilian real relative to the dollar, according to a 424B2 filing with the Securities and Exchange Commission.
If the currency gains by more than 3%, the payout at maturity will be the maximum settlement amount of $1,300.50 for each $1,000 principal amount.
If the currency gains by up to 3%, the payout at maturity will be par plus $1,050 per $1,000 of notes.
If the currency falls by up to 30%, the payout will be par.
Otherwise, investors will be fully exposed to any losses if the currency falls below the 70% trigger level.
Goldman Sachs & Co. is the underwriter with J.P. Morgan Securities LLC as placement agent.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Currency-linked notes
|
| Underlying currency: | Brazilian real, measured relative to dollar
|
| Amount: | $3.98 million
|
| Maturity: | Oct. 28, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If currency return is greater than 3%, $1,300.50 per note; if currency return is positive but less than or equal to 3%, $1,050 per note; if currency return is zero or negative but not below negative 30%, par; if currency return is less than negative 30%, full exposure to decline
|
| Initial spot rate: | 2.1821 reais per dollar
|
| Final spot rate: | Average of exchange rates on five trading days ending Oct. 23, 2014
|
| Pricing date: | Oct. 11
|
| Settlement date: | Oct. 21
|
| Underwriter: | Goldman Sachs & Co.
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.1%
|
| Cusip: | 38147QB62
|
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