Published on 5/20/2013 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $4.35 million currency-linked notes on basket versus yen
By Jennifer Chiou
New York, May 20 - Goldman Sachs Group, Inc. priced $4,354,000 of 0% currency-linked notes due Nov. 24, 2014 linked to the performance of a basket of currencies relative to the Japanese yen, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes equal weights of the Brazilian real, the Mexican peso, the Polish zloty, the Russian ruble and the South African rand. The basket return will be positive if the basket currencies, as a whole, strengthen relative to the yen.
If the final basket return is flat or positive, the payout at maturity will be par plus the greater of the threshold settlement amount of 21.5% or the basket return.
Investors will receive par for losses up to 10% and will be exposed to losses at a rate of 1.1111% per 1% drop beyond the buffer.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Currency-linked notes
|
| Underlying currencies: | Brazilian real, Mexican peso, Polish zloty, Russian ruble and Chilean peso, equally weighted and measured relative to Japanese yen
|
| Amount: | $4,354,000
|
| Maturity: | Nov. 24, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus greater of 21.5% or the basket return if final basket return is flat or positive; par for losses up to 10%; exposure to losses at a rate of 1.1111% per 1% drop beyond the buffer
|
| Initial rates: | 0.019865 for real, 0.119940 for Mexican peso, 0.031771 for Polish zloty, 0.308490 for Russian ruble and 0.091032 for Chilean peso
|
| Pricing date: | May 16
|
| Settlement date: | May 23
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 1.4%
|
| Cusip: | 38141GUB8
|
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