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Goldman Sachs to price leveraged buffered notes linked to S&P 500
By Toni Weeks
San Diego, May 1 - Goldman Sachs Group, Inc. plans to price 0% leveraged buffered index-linked notes due May 22, 2013 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The final index level will be the average of the closing levels on the five trading days ending May 17, 2013.
If the index return is positive, the payout at maturity will be par plus double the index return, subject to a maximum settlement amount of $1,112 per $1,000 principal amount of notes.
Investors will receive par if the index declines by up to 10% and will lose 1.1111% for every 1% decline beyond the 10% buffer.
The notes (Cusip: 38143U3K5) are expected to price May 4 and settle May 9.
Goldman Sachs & Co. will be the underwriter, and J.P. Morgan Securities LLC will be the agent.
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