New Issue: Goldman Sachs prices $860,000 leveraged notes linked to dollar vs. euro

By Marisa Wong

Madison, Wis., Oct. 3 – Goldman Sachs Group, Inc. priced $860,000 of 0% leveraged currency-linked notes due Oct. 2, 2017 tied to the dollar relative to the euro, according to a 424B2 filing with the Securities and Exchange Commission.

The currency return will be positive if the final exchange rate is less than the initial exchange rate, which means it will take fewer dollars to purchase one euro at the final exchange rate compared to the initial rate.

The payout at maturity will be par plus 4.05 times any currency gain, subject to a maximum settlement amount of $1,405 per $1,000 principal amount. Investors will share in losses if the currency return is negative, with a minimum payout of zero.

Goldman, Sachs & Co. is the underwriter with JPMorgan as placement agent.

Issuer:	Goldman Sachs Group, Inc.
Issue:	Leveraged currency-linked notes
Underlying exchange rate:	Dollar per euro
Amount:	$860,000
Maturity:	Oct. 2, 2017
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 4.05 times any currency gain, subject to a maximum settlement amount of $1,405 per $1,000 principal amount; investors will share in losses if the currency return is negative, with a minimum payout of zero
Initial exchange rate:	1.26960
Final exchange rate:	Average of exchange rates on five averaging dates ending Sept. 28, 2017
Pricing date:	Sept. 26
Settlement date:	Oct. 3
Underwriter:	Goldman, Sachs & Co. with JPMorgan as placement agent
Fees:	1.675%
Cusip:	38147QJ31

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