Published on 9/9/2014 in the Prospect News Structured Products Daily.
New Issue: Goldman Sachs prices $3.08 million trigger notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Sept. 9 – Goldman Sachs Group, Inc. priced $3.08 million of 0% trigger notes due March 9, 2016 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index's closing level is greater than or equal to 80.5% of the initial level on every day during the life of the notes and the final index level – which will be the average of index's closing levels on the five trading days ending March 5, 2016 – is greater than or equal to 80.5% of the initial level, the payout at maturity will be par plus the greater of the index return and zero.
If the index's closing level is less than 80.5% of the initial level on any day during the life of the notes or the final index level is less than 80.5% of the initial level, investors will lose 1% for every 1% that the final level is less than the initial level.
Goldman Sachs & Co. is the underwriter with J.P. Morgan Securities LLC as agent.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Trigger notes
|
| Underlying index: | S&P 500
|
| Amount: | $3,077,000
|
| Maturity: | March 9, 2016
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index's closing level is greater than or equal to 80.5% of initial level on every day during life of notes and final index level is greater than or equal to 80.5% of initial level, par plus greater of index return and zero; if index's closing level is less than 80.5% of initial level on any day during life of notes or final index level is less than 80.5% of initial level, full exposure to index’s decline
|
| Initial index level: | 2,007.71
|
| Final index level: | Average of index's closing levels on five trading days ending March 5, 2016
|
| Pricing date: | Sept. 5
|
| Settlement date: | Sept. 10
|
| Underwriter: | Goldman Sachs & Co.
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.35%
|
| Cusip: | 38147QGC4
|
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