Published on 4/8/2004 in the Prospect News Convertibles Daily.
New Issue: Goldman Sachs $6 million 0.25% notes exchangeable for Wyeth yield 0.25%, up 22%
New York, April 8 - The Goldman Sachs Group Inc. priced $6 million of five-year 0.25% notes exchangeable for the common stock of Wyeth to yield 0.25% with a 22% initial conversion premium, according to a 424B3 filing with the Securities and Exchange Commission.
Terms of the deal are as follows:
Issuer: | The Goldman Sachs Group Inc.
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Issue: | Exchangeable medium-term notes
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Underlying stock: | Wyeth
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Amount: | $6 million
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Maturity: | April 12, 2009
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Coupon: | 0.25%
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Price: | Par
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Yield: | 0.25%
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Exchange premium: | 22%
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Exchange price: | $47.1945
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Exchange ratio: | 21.1889, in cash or stock, at Goldman's option
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Call: | April 12, 2007 onwards at par, automatic exchange if stock more valuable
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Payout at maturity: | Par in cash, automatic exchange if stock more valuable
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Pricing date: | April 2
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Settlement date: | April 12
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Underwriter: | Goldman, Sachs & Co.
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Distribution: | Off shelf
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