Goldman Sachs to price index-linked trigger notes tied to S&P 500

By Toni Weeks

San Luis Obispo, Calif., May 19 – Goldman Sachs Group, Inc. plans to price 0% index-linked trigger notes due Nov. 30, 2016 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the closing level of the index is equal to or greater than 76.6% of the initial index level on every trading day during the life of the notes and the final level is at least 76.6% of the initial level, the payout at maturity will be par plus the index return, with a floor of par.

If the closing level of the index is less than the 76.6% trigger level during the life of the notes or the final level is less than the trigger level, the payout will be par with full exposure to any losses.

The final index level will be the average of the closing index levels on the five trading days ending Nov. 25, 2016.

The notes (Cusip: 38148T3Q0) are expected to price May 22 and settle May 28.

Goldman Sachs & Co. is the underwriter. J.P. Morgan Securities LLC is the placement agent.

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