Published on 6/30/2010 in the Prospect News Structured Products Daily.
New Issue: Goldman Sachs prices $2.66 million autocallable notes linked to S&P 500
By Jennifer Chiou
New York, June 30 - Goldman Sachs Group, Inc. priced $2.66 million of 0% autocallable index-linked notes due July 13, 2011 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above the initial index level on either call observation date, the notes will be automatically called at par plus an annualized call premium of 13.65%.
The call observation dates are Jan. 6, 2011 and April 6, 2011.
If the notes are not called, the payout at maturity will be fixed at 13.65% if the index gains and will be par as long as the final index level is at least 80% of the initial level. Otherwise, the payout will be par plus the index return.
Goldman, Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable index-linked notes
|
| Underlying index: | S&P 500
|
| Amount: | $2,662,000
|
| Maturity: | July 13, 2011
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Fixed return of 13.65% if final index level is greater than initial level; par if final index level is less than initial but at least 80% of initial level; otherwise, full exposure to the decline
|
| Call: | At par plus 13.65% per year if index closes at or above initial level on Jan. 6, 2011 | or April 6, 2011
|
| Initial index level: | 1,073.20
|
| Pricing date: | June 28
|
| Settlement date: | July 6
|
| Underwriter: | Goldman, Sachs & Co.
|
| Fees: | 0.1%
|
| Cusip: | 38145X400
|
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