New Issue: GS prices $6 million leveraged buffered digital notes tied to Russell

By Devika Patel

Knoxville, Tenn., Nov. 21 – GS Finance Corp. priced $6 million of 0% leveraged buffered digital notes with capped upside due May 21, 2020 tied to 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 index return is zero or positive, the payout at maturity will be the greater of (a) the threshold settlement amount of $1,280 per $1,000 principal amount and (b) par plus 120% of the return, subject to a maximum settlement of $1,600 per $1,000 of notes. If the index falls by up to 10%, the payout at maturity will be par. Otherwise, investors will lose 1.1111% for every 1% decline beyond the buffer.

Goldman, Sachs & Co. is the underwriter.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Leveraged buffered digital notes
Underlying index:	Russell 2000
Amount:	$6 million
Maturity:	May 21, 2020
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	If index return is zero or positive, par plus greater of (a) 28% and (b) 120% of index gain, capped at 60%; par if index falls by up to 10%; 1.1111% loss for every 1% decline beyond 10%
Initial level:	1,309.484
Pricing date:	Nov. 17
Settlement date:	Nov. 22
Underwriter:	Goldman, Sachs & Co.
Fees:	0.25%
Cusip:	40054KPK6

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.