Published on 2/9/2016 in the Prospect News Structured Products Daily.
New Issue: Goldman Sachs prices $10.87 million digital notes linked to S&P 500
By Marisa Wong
Morgantown, W.Va., Feb. 9 – Goldman Sachs Group, Inc. priced $10.87 million of 0% digital notes due May 10, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is greater than or equal to negative 15%, the payout at maturity will be $1,081 per $1,000 of notes. Otherwise, investors will lose 1.1765% for every 1% that the index declines beyond 15%.
Goldman, Sachs & Co. is the agent.
Issuer: | Goldman Sachs Group, Inc.
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Issue: | Digital notes
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Underlying index: | S&P 500
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Amount: | $10,873,000
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Maturity: | May 10, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is greater than or equal to negative 15%, $1,081 per $1,000 of notes; otherwise, 1.1765% loss for every 1% index decline beyond 15%
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Initial index level: | 1,901.04 (set higher than closing level of index on pricing date, which was 1,880.05)
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Pricing date: | Feb. 5
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Settlement date: | Feb. 12
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Agent: | Goldman, Sachs & Co.
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Fees: | 0.92%
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Cusip: | 38148TLY3
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