By Toni Weeks
San Luis Obispo, Calif., April 7 – Goldman Sachs Group, Inc. priced $3.35 million of 0% notes due Oct. 13, 2016 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any gain in the index, subject to a maximum settlement amount of $1,153 per $1,000 principal amount of notes.
If the index return is negative and the final index level is at least 84.7% of the initial level, the payout will be par plus the absolute value of the index return.
If the final index level is less than 84.7% of the initial level, investors will receive par plus the index return, with full exposure to losses.
The final index level will be the average of the index levels on the five trading days ending Oct. 7, 2016.
Goldman Sachs & Co. is the underwriter with J.P. Morgan Securities LLC as placement agent.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Notes
|
| Underlying index: | S&P 500
|
| Amount: | $3,346,000
|
| Maturity: | Oct. 13, 2016
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus any index gain, capped at 15.3%; if index falls by up to 15.3%, par plus absolute value of index return; if index falls by more than 15.3%, par plus index return, with full exposure to losses
|
| Initial index level: | 2,066.96
|
| Trigger level: | 84.7% of initial level
|
| Final index level: | Average of index’s closing levels on five trading days ending Oct. 7, 2016
|
| Pricing date: | April 2
|
| Settlement date: | April 8
|
| Underwriter: | Goldman Sachs & Co.
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.4%
|
| Cusip: | 38147QYG5
|
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