New York, April 26 - The Goldman Sachs Group, Inc. priced $27.456 million of 3.5% exchangeable notes due 2012 linked to the common stock of International Business Machines Corp. in two trades, according to a filing with the Securities and Exchange Commission.
The initial tranche priced at par to yield 3.5% and with an initial exchange premium of 29.5%.
Of the total amount, $17.135 million was priced on April 22 at par and $10.321 million on April 23 at 100.45. Both were underwritten by Goldman, Sachs & Co.
The medium-term notes pay par in cash at maturity unless the holder exercises the exchange right, Goldman calls the notes or an automatic exchange occurs. The notes automatically exchange if the value of the 8.78 shares of IBM stock exceeds the principal amount plus accrued interest.
| Issuer: | The Goldman Sachs Group, Inc.
|
| Issue: | Exchangeable medium-term notes
|
| Amount: | $27.456 million total ($17.135 million on April 22, $10.321 million on April 23)
|
| Maturity: | April 29, 2012
|
| Coupon: | 3.5%, payable semi-annually beginning Oct. 29, 2002
|
| Price: | Par for $17.135 million on April 22
|
| 100.45 for $10.321 million on April 23
|
| Payout at maturity: | Par in cash
|
| Initial exchange premium: | 29.5% over $87.93 closing price of IBM on April 22
|
| Exchange ratio: | 8.78 payable in cash
|
| Exchange price: | $113.8952
|
| Call: | After April 29, 2004 coupon payment at par
|
| Settlement: | April 29
|
| Cusip: | 38141GCD4
|
|
|
© 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.
