Published on 3/15/2005 in the Prospect News Convertibles Daily.
New Issue: Goldman Sachs prices $15 million exchangeable for Devon Energy to yield 1%, up 23%
New York, March 15 - The Goldman Sachs Group Inc. priced $15 million of seven-year 1% notes exchangeable for the common stock of Devon Energy Corp., according to a 424B3 filing with the Securities and Exchange Commission.
The initial exchange premium for the notes is 23%.
| Issuer: | Goldman Sachs Group Inc.
|
| Underlying stock: | Devon Energy Corp.
|
| Issue: | Exchangeable medium-term notes
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| Amount: | $15 million
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| Maturity: | March 16, 2012
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| Coupon: | 1%
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| Price: | Par
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| Yield: | 1%
|
| Exchange premium: | 23%
|
| Exchange price: | $60.2285
|
| Exchange ratio: | 16.6034, in cash or stock at Goldman's option
|
| Call: | March 16, 2008 onwards at par, automatic exchange if more valuable
|
| Pricing date: | March 9
|
| Settlement date: | March 16
|
| Underwriter: | Goldman, Sachs & Co.
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