Published on 11/4/2014 in the Prospect News Structured Products Daily.
New Issue: Goldman Sachs prices $1.91 million trigger notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Nov. 4 – Goldman Sachs Group, Inc. priced $1.91 million of 0% trigger notes due May 4, 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 77.85% of the initial level on every day during the life of the notes and the final index level, which will be the average of the index’s closing levels on the five trading days ending April 29, 2016, is greater than or equal to 77.85% of the initial level, the payout at maturity will be par plus the greater of zero and the index return. Otherwise, the payout will be par plus the index return, with exposure to any losses.
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: | $1,912,000
|
| Maturity: | May 4, 2016
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index's closing level is greater than or equal to 77.85% of initial level on every day during life of notes and final index level is greater than or equal to 77.85% of initial level, par plus greater of zero and index return; if index's closing level is less than 77.85% of initial level on any day during life of notes or final index level is less than 77.85% of initial level, par plus index return, with exposure to any losses
|
| Initial index level: | 2,018.05
|
| Final index level: | Average of index’s closing levels on the five trading days ending April 29, 2016
|
| Pricing date: | Oct. 31
|
| Settlement date: | Nov. 5
|
| Underwriter: | Goldman Sachs & Co.
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.35%
|
| Cusip: | 38147QLQ7
|
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