Published on 3/3/2011 in the Prospect News Structured Products Daily.
New Issue: Goldman Sachs prices $30 million additional ETNs linked to S&P GSCI Enhanced Commodity
By Angela McDaniels
Tacoma, Wash., March 3 - Goldman Sachs Group, Inc. priced an additional $30 million of 0% GS Connect S&P GSCI Enhanced Commodity Total Return Strategy index exchange-traded notes due May 8, 2037 linked to the S&P GSCI Enhanced Commodity Index Total Return, according to a 424B2 filing with the Securities and Exchange Commission.
The additional notes priced at 106.8382.
The issuer has now priced $184.23 million of the notes in six tranches at prices ranging from 83.1352 to 120.54. The original $57.38 million of notes priced at par on May 3, 2007.
The payout at maturity or upon redemption will be (a) par multiplied by the index factor minus (b) the investor fees. On any day, the index factor is the closing index level on that day divided by the initial index level. The investor fees accrue daily at an annual rate of 1.25% of par multiplied by the index factor.
The notes are putable on Thursday of each week, subject to a minimum of 50,000 notes.
The notes are listed on NYSE Arca under the symbol "GSC."
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | GS Connect S&P GSCI Enhanced Commodity Total Return Strategy index ETNs
|
| Underlying index: | S&P GSCI Enhanced Commodity Index Total Return
|
| Amount: | $184,225,600, increased from $57,379,850
|
| Maturity: | May 8, 2037
|
| Coupon: | 0%
|
| Prices: | Par for $57,379,850; 99.58 for $6,845,750; 106.36 for $20 million; 120.54 for $50 million; 83.1352 for $20 million; 106.8382 for $30 million
|
| Payout at maturity: | Amount equal to (a) par multiplied by the index factor minus (b) the investor fees
|
| Put option: | On Thursday of each week, subject to minimum of 50,000 notes
|
| Initial index level: | 693.3813
|
| Pricing dates: | May 3, 2007 for original issue; May 31, 2007 for first add-on; July 27, 2007 for second add-on; Oct. 30, 2007 for third add-on; Jan. 22, 2010 for fourth add-on; Feb. 28 for fifth add-on
|
| Settlement dates: | May 8, 2007 for original issue; June 5, 2007 for first add-on; Aug. 1, 2007 for second add-on; Nov. 2, 2007 for third add-on; Jan. 27, 2010 for fourth add-on; March 3 for fifth add-on
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 0.1%
|
| Listing: | NYSE Arca: GSC
|
| Cusip: | 38144L852
|
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