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Goldman Sachs to price digital notes linked to SPDR S&P Oil & Gas ETF
By Angela McDaniels
Tacoma, Wash., Dec. 16 – Goldman Sachs Group, Inc. plans to price 13- to 15-month 0% digital notes linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is greater than or equal to negative 15%, the payout at maturity will be the maximum settlement amount, which is expected to be $1,150 to $1,176 per $1,000 principal amount of notes and will be set at pricing. Otherwise, investors will lose 1.1765% for every 1% that the ETF declines beyond 15%.
Goldman Sachs & Co. is the underwriter.
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