Published on 2/13/2017 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $18.55 million buffered digital notes on Euro Stoxx
By Marisa Wong
Morgantown, W.Va., Feb. 13 – GS Finance Corp. priced $18.55 million of 0% buffered digital notes due Feb. 11, 2021 linked to the Euro Stoxx 50 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 $1,438.50 per $1,000 of notes and par plus the return. Investors will receive par if the index declines by 15% or less and will lose 1.1765% for each 1% decline beyond the 15% 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: | Euro Stoxx 50
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Amount: | $18,547,000
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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 43.85% and index return; par if the index declines by 15% or less; 1.1765% loss for each 1% decline beyond the 15% buffer
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Initial level: | 3,235.71
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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: | 40054KWF9
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