Published on 7/31/2017 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $20,000 leveraged buffered notes linked to S&P 500
By Marisa Wong
Morgantown, W.Va., July 31 – GS Finance Corp. priced $20,000 of 0% leveraged buffered index-linked notes due July 30, 2019 tied to the S&P 500 index, 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 200% of the index return, subject to a maximum payment of $1,172 per $1,000 principal amount. Investors will receive par if the index falls by up to 10% and lose 1% for every 1% decline in the index beyond 10%.
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 buffered index-linked notes
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Underlying index: | S&P 500 index
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Amount: | $20,000
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Maturity: | July 30, 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 200% of index return, subject to maximum payment of $1,172 per $1,000 principal amount; par if index falls by up to 10%; 1% loss for every 1% decline in index beyond 10%
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Initial index level: | 2,477.13
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Pricing date: | July 25
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Settlement date: | July 28
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Underwriter: | Goldman, Sachs & Co.
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Fees: | 0.725%
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Cusip: | 40054LHB3
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