Published on 12/8/2004 in the Prospect News Convertibles Daily.
New Issue: Goldman prices $9.99 million trigger notes exchangeable for Limited Brands
New York, Dec. 8 - The Goldman Sachs Group Inc. priced $9.99 million of one-year 7.5% trigger notes mandatorily exchangeable for Limited Brands Inc. stock, according to a 424B3 filing with the Securities and Exchange Commission.
Terms of the deal are as follows:
Issuer: | The Goldman Sachs Group Inc.
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Issue: | Trigger mandatorily exchangeable medium-term notes
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Underlying stock: | Limited Brands Inc.
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Amount: | $9.989 million
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Maturity: | Dec. 12, 2005
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Coupon: | 7.5%
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Price: | Par of $24.07
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Yield: | 7.5%
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Payout at maturity: | If Limited Brands stock never falls below threshold price, 1 share per $24.07 principal amount, with minimum value of $24.07 and maximum of $26.477, 110% of initial price
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| If Limited Brands stock falls below threshold price, 1 share per $24.07 principal amount, with maximum of $26.477, 110% of initial price
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| Payable in cash or stock at Goldman's option
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Threshold price: | $18.0525, 75% of initial price of $24.07
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Exchange price: | $24.07
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Exchange ratio: | 1, in cash or stock at Goldman's option
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Pricing date: | Dec. 2
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Settlement date: | Dec. 9
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Underwriter: | Goldman, Sachs & Co.
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Distribution: | Off shelf
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