Published on 11/22/2016 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $332,000 of leveraged notes linked to S&P 500 index
By Tali Rackner
Norfolk, Va., Nov. 22 – GS Finance Corp. priced $332,000 of 0% leveraged notes due Nov. 25, 2019 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.
The payout at maturity will be par plus 1.5 times any index gain, subject to a maximum settlement amount of $1,280 per $1,000 principal amount.
If the index falls by up to 20%, the payout will be par plus the absolute value of the index return.
If the index falls by more than 20%, the payout will be par plus the index return with full exposure to losses.
Goldman Sachs & Co. is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Leveraged index-linked notes
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Underlying index: | S&P 500
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Amount: | $332,000
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Maturity: | Nov. 25, 2019
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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 1.5 times any index gain, capped at $1,280 per $1,000 principal amount; if index declines by up to 20%, par plus the absolute value of the return; otherwise, full exposure to losses if index declines beyond 20%
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Initial level: | 2,181.90
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Pricing date: | Nov. 18
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Settlement date: | Nov. 28
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Agent: | Goldman, Sachs & Co.
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Fees: | 2.525%
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Cusip: | 40054KN77
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