Goldman Sachs to price 0% notes inversely linked to S&P 500

By Angela McDaniels

Seattle, Feb. 7 - Goldman Sachs Group, Inc. plans to price an offering of 0% absolute return trigger notes due August 2008 linked to the S&P index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are expected to price on Feb. 22.

If the index remains within the index range during the life of the notes, the payout at maturity will be par plus 1% for each 1% decline in the index. The lower and upper index range boundaries will be between 76% and 80% and between 120% and 124% of the initial index level, respectively, and will be determined at pricing.

If the index falls outside of the index range during the life of the notes, the payout will be par.

Goldman, Sachs & Co. will underwrite the offering and will receive a 1.9% discount.

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