Published on 4/3/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $3.65 million absolute return notes on three indexes
By Susanna Moon
Chicago, April 3 – GS Finance Corp. priced $3.65 million of 0% notes due March 24, 2020 linked to the lesser performing of the Russell 2000 index, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above its initial level, the payout at maturity will be par plus 1.3 times the return of the worst performing index, up to a maximum settlement amount of $1,331.5 for each $1,000 principal amount.
If any index falls but finishes at or above its 75% barrier level, the payout will be par plus the absolute value of the return of he worst performing index.
Otherwise, investors will be fully exposed to any losses of the worst performing index.
The guarantor is Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Index-linked notes
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Underlying indexes: | Russell 2000 index, S&P 500 index and Nasdaq-100 index
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Amount: | $3,645,000
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Maturity: | March 24, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index gains, par plus 1.3 times the return of worst performing index, capped at 33.15%; if any index falls by up to 25%, par plus absolute return of worst performing index; otherwise, full exposure to any losses of worst performing index
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Initial levels: | 1,570.562 for Russell, 2,712.92 for S&P and 6,864.882 for Nasdaq
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Trigger levels: | 75% of initial levels
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Pricing date: | March 19
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Settlement date: | March 22
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.875%
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Cusip: | 40055AST5
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