Published on 6/6/2014 in the Prospect News Structured Products Daily.
New Issue: Goldman Sachs prices $7.19 million digital notes linked to Hang Seng China Enterprises
By Toni Weeks
San Luis Obispo, Calif., June 6 – Goldman Sachs Group, Inc. priced $7.19 million of 0% digital notes due Sept. 16, 2015 linked to the Hang Seng China Enterprises index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above the 90% barrier level, the payout at maturity will be the maximum settlement amount of $1,100 for each $1,000 principal amount.
Otherwise, investors will lose 1.1111% for every 1% decline beyond 10%.
The initial index level of 10,355 is higher than the actual closing level of the index at pricing, which was 10,317.82.
Goldman Sachs & Co. is the underwriter.
Issuer: | Goldman Sachs Group, Inc.
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Issue: | Digital notes
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Underlying index: | Hang Seng China Enterprises
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Amount: | $7,188,000
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Maturity: | Sept. 16, 2015
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes at or above 90% of initial level, $1,100 per $1,000 note; otherwise, 1.1111% loss for every1% decline beyond 10%
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Initial levels: | 10,355
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Barrier level: | 90% of initial level
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Pricing date: | June 4
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Settlement date: | June 11
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Underwriter: | Goldman Sachs & Co.
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Fees: | 0.93%
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Cusip: | 38148C114
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