Published on 9/22/2017 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $1.73 million of buffered PLUS with cap tied to S&P 500
By Susanna Moon
Chicago, Sept. 22 – GS Finance Corp. priced $1.73 million of 0% buffered Performance Leveraged Upside Securities due April 3, 2020 linked to the S&P 500 index, according to a 424B2 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 double any index gain, up to a maximum payment of $11.60 per PLUS.
Investors will receive par if the index falls by up to 10% and will lose 1% for each 1% decline beyond the buffer.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Buffered Performance Leveraged Upside Securities
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| Underlying index: | S&P 500
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| Amount: | $1,728,500
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| Maturity: | April 3, 2020
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus 200% of the index return, capped at 16%; if index declines by 10% or less, par; otherwise, 1% loss for each 1% decline beyond 10%
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| Initial level: | 2,500.23
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| Pricing date: | Sept. 15
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| Settlement date: | Sept. 20
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 3.175%
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| Cusip: | 36253M653
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