Published on 5/1/2017 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $4.27 million trigger notes on iShares MSCI EM ETF
By Marisa Wong
Morgantown, W.Va., May 1 – GS Finance Corp. priced $4.27 million of 0% trigger notes due May 9, 2018 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the final fund share price is greater than or equal to 80% of the initial fund share price, the payout at maturity will be par plus the greater of the fund return, capped at 15.61%, and zero. Otherwise, investors will lose 1% for every 1% that the final fund share price is less than the initial fund share price.
Goldman Sachs & Co. is the underwriter with JPMorgan as placement agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Trigger notes
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Underlying ETF: | iShares MSCI Emerging Markets ETF
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Amount: | $4.27 million
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Maturity: | May 9, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final fund share price is greater than or equal to 80% of initial fund share price, par plus greater of fund return, capped at 15.61%, and zero; otherwise, 1% loss for every 1% that final fund share price is less than initial fund share price
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Initial fund share price: | $39.29
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Final fund share price: | Average of closing levels on five averaging dates ending May 4, 2018
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Pricing date: | April 21
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Settlement date: | April 26
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Underwriter: | Goldman Sachs & Co. with JPMorgan as placement agent
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Fees: | 1.1%
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Cusip: | 40054L7B4
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