By Wendy Van Sickle
Columbus, Ohio, March 12 – GS Finance Corp. priced $1.23 million of 0% ETF-linked notes due March 9, 2023 linked to the lesser performing of the iShares Silver Trust and the SPDR Gold Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the final values of both funds are greater than their initial values, the payout at maturity will be par plus 1.425 times the return of the lesser performing fund.
If either fund finishes below its initial value but above 80% of its initial level, the payout will be par.
Otherwise, investors will be fully exposed to the losses of the lesser performing fund.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | ETF-linked notes
|
| Underlying funds: | iShares Silver Trust and SPDR Gold Trust
|
| Amount: | $1,232,000
|
| Maturity: | March 9, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If both funds finish above initial values, par plus 1.425 times return of lesser performing fund; if lesser performing fund falls but finishes above 80%, par; otherwise, exposure to losses of worse performer
|
| Initial levels: | $16.09 for silver and $154.16 for gold
|
| Trigger buffer levels: | 80% of initial levels
|
| Pricing date: | March 4
|
| Settlement date: | March 9
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 1.25%
|
| Cusip: | 40056YK52
|
|
|
© 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.
