By Jennifer Chiou
New York, July 23 – Goldman Sachs Group, Inc. priced $675,000 of 0% index-linked trigger notes due Aug. 5, 2015 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A trigger event will occur if the index ever closes below the trigger level, 85.35% of the initial index level, on any day during the life of the notes and finishes below the trigger level.
If a trigger event never occurs and the final index level is at least 85.35% of the initial index level, the payout at maturity will be par plus the greater of zero and any index gain.
Otherwise, the payout will be par plus the index return, with full exposure to losses.
In either case, the maximum gain will be 15%.
The final index level will be the average of the closing index levels on the five trading days ending Jan. 15, 2016.
Goldman Sachs & Co. is the underwriter. J.P. Morgan Securities LLC is the placement agent.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Index-linked trigger notes
|
| Underlying index: | S&P 500
|
| Amount: | $675,000
|
| Maturity: | Aug. 5, 2015
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index never dips below trigger level during life of notes and finishes at or above trigger level, par plus any index gain, floor of par; otherwise, full exposure to losses; maximum return of 15% in either case
|
| Initial index level: | 1,978.22
|
| Trigger level: | 85.35% of initial level
|
| Pricing date: | July 18
|
| Settlement date: | July 23
|
| Underwriter: | Goldman Sachs & Co. with JPMorgan as placement agent
|
| Fees: | 1.1%
|
| Cusip: | 38147QD78
|
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