Published on 5/16/2017 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.5 million trigger notes on SPDR S&P Oil & Gas Exploration & Production ETF
By Wendy Van Sickle
Columbus, Ohio, May 16 – GS Finance Corp. priced $1.5 million of 0% trigger notes due May 31, 2018 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the fund finishes at or above 77.5% of the initial level, the payout at maturity will be par plus 10%.
If the fund finishes below 77.5% of the initial level, investors will lose 1% for each 1% decline below the initial level.
Goldman Sachs & Co. is the underwriter with JPMorgan as placement agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Trigger notes
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Underlying fund: | SPDR S&P Oil & Gas Exploration & Production ETF
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Amount: | $1.5 million
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Maturity: | May 31, 2018
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | If the fund finishes at or above 77.5% of initial level, par plus 10%; otherwise, investors will lose 1% for each 1% decline below the initial level
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Initial price: | $35.29
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Final level: | Average of closing share prices on the five trading days ending May 25, 2018
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Pricing date: | May 12
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Settlement date: | May 17
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Underwriter: | Goldman, Sachs & Co. with JPMorgan as placement agent
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Fees: | 1.1%
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Cusip: | 40054LCE2
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