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

By Marisa Wong

Madison, Wis., June 9 – Goldman Sachs Group, Inc. plans to price 0% index-linked trigger notes due June 29, 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 80.5% of the initial index level on every trading day during the life of the notes and the final level is at least 80.5% 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 80.5% 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.

In either case, the maximum settlement amount is $1,150 per $1,000 of notes.

The final index level will be the average of the closing index levels on the five trading days ending June 24, 2016.

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

The notes are expected to price on June 12 and settle on June 17.

The Cusip number is 38148T5H8.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.