Published on 11/10/2004 in the Prospect News Convertibles Daily.
New Issue: Goldman prices $25 million notes exchangeable for Yahoo!
New York, Nov. 10 - The Goldman Sachs Group Inc. priced $25 million of six-month 8.125% notes mandatorily exchangeable for Yahoo! Inc. stock, 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: | Yahoo! Inc.
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Amount: | $25 million
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Maturity: | May 16, 2005
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Coupon: | 8.125%, payable quarterly
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Price: | Par of $36.053
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Yield: | 8.125%
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Payout at maturity: | One share of Yahoo! stock per $36.053 face amount, capped at $43.2636, 120% of par, in cash or stock at Goldman's option
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Exchange price: | $36.053
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Pricing date: | Nov. 5
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Settlement date: | Nov. 15
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Underwriter: | Goldman, Sachs & Co.
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Distribution: | Off shelf
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