By Jennifer Chiou
New York, May 3 - Goldman Sachs Group, Inc. priced $12.4 million of 0% index-linked trigger notes due May 16, 2012 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A trigger event occurs if the index's closing level falls by more than 20% of the initial level on any day during the life of the notes.
If a trigger event occurs, the payout at maturity will be par plus the index return, which could be positive or negative. If a trigger event does not occur, the payout will be par plus the greater of the index return and a contingent minimum return of 1.7%.
In either case, the maximum payout will be 20%.
J.P. Morgan Securities LLC is the lead agent with Goldman Sachs & Co. as co-agent.
Issuer: | Goldman Sachs Group, Inc.
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Issue: | Index-linked trigger notes
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Underlying index: | S&P 500
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Amount: | $12,401,000
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Maturity: | May 16, 2012
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index falls by more than 20% of initial level during life of notes, par plus index return; otherwise, par plus greater of index return and 1.7%; maximum payout of 20% in either case
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Initial index level: | 1,363.61
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Pricing date: | April 29
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Settlement date: | May 4
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Agents: | J.P. Morgan Securities LLC (lead) and Goldman Sachs & Co.
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Fees: | 1.1%
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Cusip: | 38143UTZ4
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