Published on 5/9/2016 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $4.58 million digital notes tied to S&P 500
By Devika Patel
Knoxville, Tenn., May 9 – GS Finance Corp. priced $4.58 million of 0% digital notes due May 18, 2017 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Investors will receive the maximum settlement amount of $1,051.50 if the index declines by 15% or less and will lose 1.1765% for every 1% that it declines beyond 15%.
Goldman Sachs & Co. is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | 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: | $4.58 million
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Maturity: | May 18, 2017
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | If index declines by 15% or less, $1,051.50; 1.1765% loss for every 1% that index declines beyond 15%
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Initial index level: 2,050.63
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Pricing date: | May 5
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Settlement date: | May 12
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Underwriter: | Goldman Sachs & Co.
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Fees: | 0.7%
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Cusip: | 40054KCE4
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