Published on 12/7/2016 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.08 million leveraged notes tied to Russell 2000
By Marisa Wong
Morgantown, W.Va., Dec. 7 – GS Finance Corp. priced $2.08 million of 0% leveraged index-linked notes due Dec. 29, 2017 tied to the Russell 2000 index, according to a 424B3 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 300% of the index return, subject to a maximum payment of $1,190 per $1,000 principal amount. Investors will be fully exposed to any index decline.
Goldman, Sachs & Co. is the underwriter.
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: | Russell 2000 index
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Amount: | $2.08 million
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Maturity: | Dec. 29, 2017
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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 300% of index return, subject to maximum payment of $1,190 per $1,000 principal amount; full exposure to losses
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Initial index level: | 1,334.341
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Final index level: | Average of index closing levels on five trading days ending Dec. 26, 2017
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Pricing date: | Nov. 22
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Settlement date: | Nov. 28
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Underwriter: | Goldman, Sachs & Co.
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Fees: | 1.14%
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Cusip: | 40054KPZ3
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