By Angela McDaniels
Tacoma, Wash., March 3 - Goldman Sachs Group, Inc. priced $3.76 million of additional 0% callable exchangeable notes due Feb. 19, 2021 linked to the common stock of Google Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The company priced $12.5 million of the notes at par on Feb. 19. On Feb. 26, it priced $3.7 million principal amount of additional notes at 101.75 for $3,764,750 of proceeds. The total principal amount of notes priced is now $16.2 million.
Each $1,000 principal amount of notes can be exchanged at any time for 0.6515 Google shares. Exchanges can be settled in cash at the issuer's option.
The payout at maturity will be an amount in cash equal to the average of the averaging date prices on Feb. 11, 2021, Feb. 12, 2021 and Feb. 16, 2021. The averaging date price equals the greater of the exchange value (0.6516 multiplied by the closing share price) on that date or $1,000.
Beginning Feb. 20, 2019, the notes are callable at any time at the greater of par and the exchange value, payable in cash or stock at the issuer's option.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Callable exchangeable notes
|
| Underlying stock: | Google Inc. (Symbol: GOOG)
|
| Amount: | $16.2 million, increased from $12.5 million
|
| Maturity: | Feb. 19, 2021
|
| Coupon: | 0%
|
| Price: | Par for $12.5 million and 101.375 for $3.7 million
|
| Payout at maturity: | Amount in cash equal to average of averaging date prices on Feb. 11, 2021, Feb. 12, 2021 and Feb. 16, 2021; averaging date price equals greater of exchange value on that date or $1,000
|
| Exchange option: | At any time for 0.6515 Google shares
|
| Call option: | At greater of par and exchange value from Feb. 20, 2019 onward
|
| Exchange value: | 0.6515 multiplied by closing share price
|
| Initial share price: | $1,181.51
|
| Pricing dates: | Feb. 11 for $12.5 million; Feb. 26 for $3.7 million
|
| Settlement dates: | Feb. 19 for $12.5 million; March 3 for $3.7 million
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 0.4% for original issue; 0.375% for add-on
|
| Cusip: | 38147QLX2
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