By Jennifer Chiou
New York, Dec. 13 - Goldman Sachs Group, Inc. priced $78.75 million of 9.75% equity-linked notes due Dec. 19, 2008 linked to Cisco Systems, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Of the total issue amount, $70 million of notes is being offered initially with the remaining $8.75 million of notes to be offered from time to time at prevailing market prices.
The notes priced at par of $28.749.
If the final stock price is less than or equal to the protection strike price of $22.999, 80% of the initial amount, the payout at maturity will be the product of the downside exchange ratio of 0.8929 times the protection price.
If the final price is greater than the protection strike price and less than the lower strike price of $32.199, 112% of the initial price, the payout will be 0.8929 times the final price.
If the final price falls between the lower strike price and the upper strike price of $33.363, 117% of the initial price, the payout will par.
If the final price is greater than or equal to the lower strike price of $32.199, 112% of the initial price, the payout will be par.
If the final price is greater than or equal to the upper strike price, the payout will be the face amount plus the product of the upside exchange ratio of 0.65 times the amount by which the final price exceeds the upper strike price.
Goldman, Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Equity-linked notes
|
| Underlying stock: | Cisco Systems, Inc.
|
| Amount: | $78,750,985.74
|
| Maturity: | Dec. 19, 2008
|
| Coupon: | 9.75%, payable monthly
|
| Price: | Par of $28.749
|
| Payout at maturity: | If the final stock price is less than or equal to the protection strike price of $22.999, 80% of the initial amount, the payout at maturity will be the product of the downside exchange ratio of 0.8929 times the protection price; if the final price is greater than the protection strike price and less than the lower strike price of $32.199, 112% of the initial price, the payout will be 0.8929 times the final price; if the final price falls between the lower strike price and the upper strike price of $33.363, 117% of the initial price, the payout will par; if the final price is greater than or equal to the lower strike price of $32.199, 112% of the initial price, the payout will be par; if the final price is greater than or equal to the upper strike price, the payout will be the face amount plus the product of the upside exchange ratio of 0.65 times the amount by which the final price exceeds the upper strike price.
|
| Initial price: | $28.749
|
| Protection strike price: | $22.999, 80% of the initial price
|
| Upper strike price: | $33.363, 117% of the initial price
|
| Lower strike price: | $32.199, 112% of the initial price
|
| Upside exchange ratio: | 0.65
|
| Downside exchange ratio: | 0.8929
|
| Pricing date: | Dec. 11
|
| Settlement date: | Dec. 18
|
| Underwriter: | Goldman, Sachs & Co.
|
| Fees: | 0.1%
|
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