Published on 7/12/2016 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $625,000 leveraged buffered notes linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, July 12 – GS Finance Corp. priced $625,000 of 0% leveraged buffered notes due Aug. 23, 2017 linked 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 positive, the payout at maturity will be par plus 150% of the index return, up to the $1,099 maximum settlement for each $1,000 note. Investors will receive par if the index falls by up to 10% and lose 1.1111% for every 1% decline in the index beyond 10%.
Goldman Sachs & Co. is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Leveraged buffered notes
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Underlying index: | S&P 500
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Amount: | $625,000
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Maturity: | Aug. 23, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 150% of index return, up to $1,099 per $1,000 note; par if index falls by up to 10%; 1.1111% loss for every 1% decline in index beyond 10%
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Initial index level: | 2,129.90
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Pricing date: | July 8
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Settlement date: | July 13
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Underwriter: | Goldman Sachs & Co.
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Fees: | 1.14%
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Cusip: | 40054KFV3
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