Published on 1/27/2016 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $1.85 million notes linked to S&P 500 index
By Marisa Wong
Morgantown, W.Va., Jan. 27 – GS Finance Corp. priced $1.85 million of 0% index-linked notes due Jan. 31, 2022 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the index return is zero or positive, the payout at maturity will be the greater of par of $1,000 plus the index return and the threshold settlement amount of $1,550.
If the index return is at least negative 30%, the payout will be par.
If the index return is less than negative 30%, investors will be fully exposed to the index decline.
Goldman, Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Index-linked notes
|
| Underlying index: | S&P 500
|
| Amount: | $1,845,000
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| Maturity: | Jan. 31, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index return is zero or positive, greater of par plus index return and $1,550 per $1,000 principal amount; if index return is at least negative 30%, par; otherwise, full exposure to index decline
|
| Initial index level: | 1,906.90
|
| Pricing date: | Jan. 22
|
| Settlement date: | Jan. 29
|
| Underwriters: | Goldman, Sachs & Co.
|
| Fees: | 3.625%
|
| Cusip: | 40054CAG9
|
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