Published on 6/29/2017 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $614,000 index-linked notes tied to S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, June 29 – GS Finance Corp. priced $614,000 of 0% index-linked notes due Dec. 31, 2020 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the return of each index is positive, the payout at maturity will be par plus the greater of 20% and 1.1 times the gain of the lesser-performing index. If the lesser-performing index falls by up to 30%, the payout will be par plus the absolute value of its return. Otherwise, investors will be fully exposed to the loss of the lesser-performing index.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Index-linked notes
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| Underlying indexes: | Russell 2000 and S&P 500
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| Amount: | $614,000
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| Maturity: | Dec. 31, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If return of each index is positive, par plus greater of 20% and 1.1 times any gain of lesser-performing index; if lesser-performing index falls by up to 30%, par plus absolute value of its return; otherwise, full exposure to loss of lesser-performing index
|
| Initial levels: | 1,416.640 for Russell 2000 and 2,439.07 for S&P 500
|
| Pricing date: | June 23
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| Settlement date: | June 29
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 0.9%
|
| Cusip: | 40054LDV3
|
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