Published on 4/26/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $42.41 million buffered digital notes tied to S&P 500
By Marisa Wong
Morgantown, W.Va., April 26 – GS Finance Corp. priced $42.41 million of 0% buffered digital notes due May 23, 2019 tied 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 maximum settlement amount, $1,091.50 per $1,000 principal amount.
If the index return is negative but not below negative 15%, the payout will be par. If the index return is below negative 15%, investors will lose 1% for every 1% that the index declines beyond 15%.
Goldman, Sachs & Co. is the underwriter.
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: | $42,408,000
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Maturity: | May 23, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index return is zero or positive, par plus 9.15%; if the index return is negative but not below negative 15%, par; otherwise, investors will lose 1% for every 1% that the index declines beyond 15%
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Initial index level: | 2,642.19 (set lower than closing level on pricing date)
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Pricing date: | April 12
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Settlement date: | April 17
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Underwriter: | Goldman, Sachs & Co.
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Fees: | 0.35%
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Cusip: | 40055AY43
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