Published on 5/13/2011 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $4.96 million notes tied to Asian currencies vs. dollar
By Susanna Moon
Chicago, May 13 - Goldman Sachs Group, Inc. priced $4.96 million of 0% currency-linked notes due May 29, 2013 tied to a basket of exchange rates relative to the U.S. dollar, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Chinese renminbi with a 50% weight, the South Korean won with a 25% weight and the Singapore dollar with a 25% weight.
The payout at maturity will be par plus 1.35 times the basket return if the basket gains, subject to a maximum settlement amount of $1,202.50 per $1,000 principal amount.
Investors will be exposed to any losses.
Goldman Sachs & Co. is the underwriter.
Issuer: | Goldman Sachs Group, Inc.
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Issue: | Currency-linked notes
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Underlying currencies: | Chinese renminbi (50% weight), South Korean won (25% weight) and Singapore dollar (25% weight), each against the U.S. dollar
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Amount: | $4,955,000
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Maturity: | May 29, 2013
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 135% of basket return if basket gains, subject to maximum return of 20.25%; exposure to losses
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Initial exchange rates: | 6.4970 for renminbi, 1,076 for won and 1.23 for Singapore dollar
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Pricing date: | May 11
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Settlement date: | May 18
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Underwriter: | Goldman Sachs & Co.
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Fees: | 0.175%
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Cusip: | 38143UUP4
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