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GS Finance plans 0% notes due July 12, 2017 linked to S&P 500
By Devika Patel
Knoxville, Tenn., Jan. 5 – GS Finance Corp. plans to price 0% notes due July 12, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event will occur if the final level is below the 82.5% knock-out level.
The payout at maturity will be par of $1,000 plus the index return, up to a maximum payment of $1,171.50. Investors will receive par plus the absolute value of the index return if the index declines but a knock-out event has not occurred.
If a knock-out event has occurred, the payout will be par plus the index return, with full exposure to any losses.
The exact terms will be set at pricing.
Goldman Sachs & Co. and JPMorgan are the agents.
The notes (Cusip: 40054CAY0) will price on Jan. 8 and settle on Jan. 13.
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