Published on 7/11/2016 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $2.27 million leveraged notes linked to S&P Banks
By Marisa Wong
Morgantown, W.Va., July 11 – GS Finance Corp. priced $2.27 million of 0% leveraged notes due Jan. 11, 2018 linked to the S&P Banks Select Industry 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 300% of the index return, subject to a maximum settlement amount of $1,330 for each $1,000 principal amount. Investors will be fully exposed to any index 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: | Leveraged index-linked notes
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Underlying index: | S&P Banks Select Industry
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Amount: | $2.27 million
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Maturity: | Jan. 11, 2018
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | If index return is positive, par plus 300% of index gain, payout capped at $1,330 per note; full exposure to any index decline
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Initial level: | 647.90
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Pricing date: | July 6
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Settlement date: | July 13
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Agent: | Goldman, Sachs & Co.
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Fees: | 1.35%
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Cusip: | 40054KFX9
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