Published on 4/17/2017 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $3.52 million PLUS linked to S&P MidCap 400
By Marisa Wong
Morgantown, W.Va., April 17 – GS Finance Corp. priced $3.52 million of 0% Performance Leveraged Upside Securities due July 5, 2018 linked to the S&P MidCap 400 index, according to a 424B2 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 of $10 plus 300% of the index return, capped at $11.365 per PLUS. Investors will be fully exposed to any index decline.
Goldman Sachs & Co. is the underwriter. Morgan Stanley Wealth Management is acting as dealer.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Performance Leveraged Upside Securities
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| Underlying index: | S&P MidCap 400
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| Amount: | $3.52 million
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| Maturity: | July 5, 2018
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If index return is positive, par plus 300% of index return, capped at $11.365 per PLUS; full exposure to losses
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| Initial level: | 1,719.65
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| Pricing date: | March 31
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| Settlement date: | April 5
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| Underwriter: | Goldman Sachs & Co.
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 2.35%
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| Cusip: | 36251V440
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