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GS Finance to price buffered notes due 2020 tied to the S&P 500 index
By Devika Patel
Knoxville, Tenn., June 25 – GS Finance Corp. plans to price 0% buffered notes due Sept. 1, 2020 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 positive or remains flat, the payout at maturity will be par plus the index return, subject to a maximum payout of $1,190 per $1,000 of notes.
Investors will receive par plus the absolute value of the return if the index declines by up to the 20% buffer and will lose 1% for each 1% decline beyond the buffer.
Goldman Sachs & Co. is the agent.
The notes (Cusip: 40055QHB1) will price on June 27 and settle on July 2.
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