Published on 7/6/2017 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $1.88 million digital index-linked notes linked to S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, July 6 – GS Finance Corp. priced $1.88 million of digital index-linked notes due June 30, 2023 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
If both indexes finish at or above their initial levels, the payout at maturity will be par plus 7.2%.
If either index declines but both finish above at or above 70% of their initial levels the payout at maturity will be par.
Otherwise investors will be exposed to the loss of the lesser performing index from its initial level.
Goldman Sachs & Co. is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Digital notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $1,881,000
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Maturity: | June 30, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index return is greater than or equal to zero, $1,720 per $1,000 principal amount; if return of each index is less than zero but greater than or equal to negative 30%, par; if return of either index is less than negative 30%, 1% loss for every 1% that lesser-performing index declines from initial level
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Initial index levels: | 2,419.38 for S&P 500 and 1,403.522 for Russell 2000
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Pricing date: | June 27
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Settlement date: | June 30
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Underwriter: | Goldman Sachs & Co.
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Fees: | 4.125%
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Cusip: | 40054LF90
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