Published on 4/19/2013 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $1.81 million range accrual notes linked to three indexes
By Angela McDaniels
Tacoma, Wash., April 19 - Goldman Sachs Group, Inc. priced $1.81 million of autocallable monthly index-linked range accrual notes due April 26, 2023 linked to the Russell 2000 index, the Euro Stoxx 50 index and the Taiwan Taiex index, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 10% per year multiplied by the proportion of days on which all three indexes' closing levels are at least 70% of their respective initial levels. Interest is payable monthly.
If the return of each index is greater than or equal to negative 50%, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the worst-performing index from its initial level.
Beginning in April 2015, the notes will be automatically called at par if the closing level of each index is greater than or equal to its initial index level on any monthly observation date.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable monthly index-linked range accrual notes
|
| Underlying indexes: | Russell 2000 index, Euro Stoxx 50 index and Taiwan Taiex index
|
| Amount: | $1,814,000
|
| Maturity: | April 26, 2023
|
| Coupon: | 10% per year multiplied by proportion of days on which all three indexes close at or above their trigger levels; payable monthly
|
| Price: | Par
|
| Payout at maturity: | If return of each index is greater than or equal to negative 50%, par; otherwise, full exposure to decline of worst-performing index from initial level
|
| Call: | Automatically at par if each index closes at or above initial level on any monthly observation date from April 2015 onward
|
| Initial index levels: | 906.80 for Russell 2000, 2,553.49 for Euro Stoxx 50 and 7,809.07 for Taiwan Taiex
|
| Trigger levels: | 634.760 for Russell 2000, 1,787.443 for Euro Stoxx 50 and 5,466.349 for Taiwan Taiex; 70% of initial levels
|
| Pricing date: | April 17
|
| Settlement date: | April 22
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 4.25%
|
| Cusip: | 38141GRK2
|
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