CBOE Lists Callable Index Linked Notes On The GSTI Internet Index (GIN)
Date 02/12/1999
The Chicago Board Options Exchange (CBOE) listed for trading two new issues of The Goldman Sachs Group, Inc. Callable Index Linked Notes (the "Notes") under the symbols "GIA.A" and "GII.A." The four year Notes are linked to the Goldman Sachs Technology Indexes (GSTI?) Internet Index (ticker symbol GIN) and were originally issued at 99.50% of the face amount.
At maturity, holders of the Notes will receive cash equal to 90% of the outstanding face amount of the Notes plus an additional amount, if any, payable only if the final GSTI Internet Index level exceeds the referenced GSTI Internet Index level.
The Notes are callable on the first business day following the anniversary of the original issue dates in the years 2001 and 2002 at prices of 160% and 190% (percentage of face amount), respectively. The Notes will not bear interest prior to maturity.
The underlying GSTI Internet Index (GIN) is a modified-capitalization weighted Index of companies involved in the internet-related sector of the technology industry. Some of the seventeen stocks currently included in the GIN are America Online, Inc.,Yahoo! Inc., and At Home Corp. The index is calculated by the CBOE every 15 seconds during regular trading hours, and is rebalanced semi-annually.
Flash Trading LLC is the Designated Primary Market Maker (DPM) in the Goldman Sachs Internet Linked Notes traded exclusively at CBOE.
CBOE, the world's largest options marketplace and pioneer of listed options, is regulated by the Securities and Exchange Commission (SEC).