E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 4/14/2004 in the Prospect News Convertibles Daily.

New Issue: Goldman Sachs $16 million 0.25% notes exchangeable for Kerr-McGee yield 0.25%, up 11.5%

New York, April 14 - The Goldman Sachs Group Inc. priced $16 million of five-year 0.25% notes exchangeable for the common stock of Kerr-McGee Corp. to yield 0.25% with an 11.5% initial conversion premium, according to a 424B3 filing with the Securities and Exchange Commission.

Terms of the deal are as follows:

Issuer:The Goldman Sachs Group Inc.
Issue:Exchangeable medium-term notes
Underlying stock:Kerr-McGee Corp.
Amount:$16 million
Maturity:April 16, 2009
Coupon:0.25%
Price:Par
Yield:0.25%
Exchange premium:11.5%
Exchange price:$55.6173
Exchange ratio:17.98, in cash or stock, at Goldman's option
Call:April 16, 2006 onwards at par, automatic exchange if stock more valuable
Payout at maturity:Par in cash, automatic exchange if stock more valuable
Pricing date:April 8
Settlement date:April 16
Underwriter:Goldman, Sachs & Co.
Distribution:Off shelf

© 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.