Published on 4/26/2016 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.59 million of leveraged notes linked to Dow Jones
By Devika Patel
Knoxville, Tenn., April 26 – GS Finance Corp. priced $1.59 million of 0% leveraged notes due April 26, 2019 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the index return is positive, the payout at maturity will be par plus 150% of the index return, subject to a maximum settlement amount of $1,270 per $1,000 of notes. If the index declines by up to 20%, investors will receive par plus the absolute value of the return. Otherwise, investors will be exposed to any declines beyond 20%.
Goldman Sachs & Co. is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Leveraged index-linked notes
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Underlying index: | Dow Jones industrial average
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Amount: | $1,591,000
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Maturity: | April 29, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 150% of index gain, capped at $1,270 per $1,000 of notes; If the index declines by up to 20%, investors will receive par plus the absolute value of the return; exposure to any declines beyond 20%
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Initial level: | 18,003.75
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Pricing date: | April 22
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Settlement date: | April 29
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Agent: | Goldman, Sachs & Co.
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Fees: | 2.6%
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Cusip: | 40054K7F7
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