By Toni Weeks
San Luis Obispo, Calif., March 18 – Goldman Sachs Group, Inc. priced $580,000 of 0% leveraged currency-linked notes due March 30, 2016 tied to the dollar relative to the euro, according to a 424B2 filing with the Securities and Exchange Commission.
The currency return will be positive if the final exchange rate is less than the initial exchange rate, which means it will take fewer dollars to purchase one euro at the final exchange rate, compared to the initial rate of 1.05215 dollars per euro.
The payout at maturity will be par plus 2.5 times any currency gain, up to a maximum payout of $1,125 per $1,000 principal amount of notes. Investors will share in losses if the currency return is negative, with a minimum payout of zero.
The final exchange rate will be the average of the exchange rates on the five trading days ending March 25, 2016.
Goldman Sachs & Co. is the underwriter. J.P. Morgan Securities LLC is the placement agent.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Leveraged currency-linked notes
|
| Underlying currency: | Dollar relative to euro
|
| Amount: | $580,000
|
| Maturity: | March 30, 2016
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If currency return is positive, par plus 2.5 times the currency return, capped at payout of $1,125 per $1,000 principal amount; if currency return is negative, exposure to losses with floor of zero
|
| Initial rate: | 1.05215
|
| Pricing date: | March 13
|
| Settlement date: | March 20
|
| Underwriter: | Goldman Sachs & Co.
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.85%
|
| Cusip: | 38147QWR3
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
