By Sarah Lizee
Olympia, Wash., March 11 – GS Finance Corp. priced $5.47 million of 0% dual directional buffered participation securities due April 1, 2021 linked 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 finishes at or above the initial level, the payout at maturity will par plus the return of the index, capped at par plus 6%.
If the index falls but by no more than the 10% buffer, the payout will be par plus the absolute value of the return.
If the index falls by more than 10%, investors will lose 1% for every 1% decline beyond the 10% buffer.
Goldman Sachs & Co. LLC is the agent. Morgan Stanley Wealth Management is the dealer.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Dual directional buffered participation notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $5,470,870
|
| Maturity: | April 1, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the index finishes at or above the initial level, par the return of the index, capped at par plus 6%; if the index falls but by no more than the 10% buffer, par plus the absolute value of the return; if the index falls by more than 10%, 1% loss for every 1% decline beyond the 10% buffer
|
| Initial level: | 2,954.22
|
| Buffer level: | 90% of initial level
|
| Pricing date: | Feb. 28
|
| Settlement date: | March 4
|
| Agent: | Goldman Sachs & Co. LLC
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 1.39%
|
| Cusip: | 36259H476
|
|
|
© 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.
