Published on 8/1/2017 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $7.04 million capped gears linked to S&P 500
By Marisa Wong
Morgantown, W.Va., Aug. 1 – GS Finance Corp. priced $7.04 million of 0% capped gears notes due Sept. 28, 2018 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 of $10 plus triple any index gain, up to a maximum settlement amount of $11.00.
Investors will lose 1% for each 1% decline.
Goldman, Sachs & Co. is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Capped gears
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Underlying index: | S&P 500
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Amount: | $7,042,550
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Maturity: | Sept. 28, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus triple any index gain, capped at 10%; 1% loss for each 1% decline
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Initial index level: | 2,477.83
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Pricing date: | July 26
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Settlement date: | July 31
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Underwriter: | Goldman, Sachs & Co.
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Fees: | 2.1%
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Cusip: | 36253M299
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