Published on 8/19/2016 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $2.62 million PLUS on Financial Select Sector SPDR
By Marisa Wong
Morgantown, W.Va., Aug. 19 – GS Finance Corp. priced $2.62 million of 0% Performance Leveraged Upside Securities due Dec. 5, 2017 linked to the Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The payout at maturity will be par of $10 plus 300% of any fund gain, up to a maximum return of 16.25%.
Investors will lose 1% for each 1% decline.
Goldman, Sachs & Co. is the agent with Morgan Stanley Wealth Management as dealer.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Performance Leveraged Upside Securities
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Underlying fund: | Financial Select Sector SPDR
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Amount: | $2,621,080
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Maturity: | Dec. 5, 2017
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index return is positive, par plus 300% of index gain, subject to 16.25% maximum return; full exposure to any index decline
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Initial level: | $24.04
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Pricing date: | Aug. 17
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Settlement date: | Aug. 22
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Agent: | Goldman, Sachs & Co.
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Dealer: | Morgan Stanley Wealth Management
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Fees: | 2.35%
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Cusip: | 36250Y429
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