Published on 6/7/2017 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $2.34 million trigger absolute return step notes tied to S&P 500
By Susanna Moon
Chicago, June 7 – GS Finance Corp. priced $14.29 million of 0% trigger absolute return step securities due May 31, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the payout at maturity will be par of $10 plus the greater of the gain and the step return of 36.25%.
If the index falls by up to the 70% downside threshold, the payout will be par plus the absolute value of the return.
Otherwise, investors will be fully exposed to any losses.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman, Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Trigger absolute return step securities
|
| Underlying index: | S&P 500
|
| Amount: | $2,339,500
|
| Maturity: | May 31, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index gains, par plus the greater of 36.25% and return; index falls by up to trigger level, par plus the absolute return; otherwise, 1% loss per 1% decline
|
| Initial index level: | 2,415.07
|
| Downside threshold: | 1,690.55, 70% of initial level
|
| Pricing date: | May 25
|
| Settlement date: | May 31
|
| Underwriter: | Goldman, Sachs & Co.
|
| Fees: | 0.35%
|
| Cusip: | 36251V689
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
