Published on 1/19/2016 in the Prospect News Structured Products Daily.
New Issue: Goldman Sachs prices $5.02 million notes linked to S&P 500 index
By Marisa Wong
Morgantown, W.Va., Jan. 19 – Goldman Sachs Group, Inc. priced $5.02 million of 0% index-linked notes due Jan. 19, 2018 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is zero or positive, the payout at maturity will be par plus the index return, subject to a maximum settlement amount of $1,290 per $1,000 principal amount of notes.
If the index return is negative but greater than or equal to negative 20%, the payout will be par plus the absolute value of the index return.
If the index return is less than negative 20%, investors will be fully exposed to the index decline.
Goldman Sachs & Co. is the underwriter.
Issuer: | Goldman Sachs Group, Inc.
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Issue: | Index-linked notes
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Underlying index: | S&P 500
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Amount: | $5.02 million
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Maturity: | Jan. 19, 2018
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | If index return is zero or positive, par plus the index return, capped at 29%; if index falls by up to 20%, par plus the absolute value of the index return; if index falls by more than 20%, investors will be fully exposed to the index decline
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Initial level: | 1,917.38, set lower than index closing level on pricing date of 1,921.84
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Pricing date: | Jan. 14
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Settlement date: | Jan. 22
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Agent: | Goldman Sachs & Co.
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Fees: | 1.45%
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Cusip: | 38148TL98
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