Published on 2/13/2017 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $6.27 million buffered digital notes on S&P 500
By Marisa Wong
Morgantown, W.Va., Feb. 13 – GS Finance Corp. priced $6.27 million of 0% buffered digital notes due Feb. 11, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the index return is zero or positive, the payout at maturity will be the greater of the threshold settlement amount of $1,282 per $1,000 of notes and par plus the return. Investors will receive par if the index declines by 10% or less and will lose 1.1111% for each 1% decline beyond the 10% buffer.
Goldman Sachs & Co. is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Buffered digital notes
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Underlying index: | S&P 500
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Amount: | $6,268,000
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Maturity: | Feb. 11, 2021
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | If the index return is zero or positive, par plus greater of 28.2% and index return; par if the index declines by 10% or less; 1.1111% loss for each 1% decline beyond the 10% buffer
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Initial level: | 2,293.08
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Pricing date: | Feb. 7
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Settlement date: | Feb. 14
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Underwriter: | Goldman, Sachs & Co.
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Fees: | 2.85%
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Cusip: | 40054KWE2
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