By Angela McDaniels
Tacoma, Wash., Jan. 28 - Goldman Sachs Group, Inc. priced $8.06 million of 0% leveraged buffered notes due Feb. 10, 2016 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par plus 2 times the ETF return, subject to a maximum settlement amount of $1,250 per $1,000 principal amount of notes. Investors will receive par if the shares fall by 10% or less and will lose 1.1111% for each 1% that they decline beyond 10%.
The initial share price set for the notes, $38.45, is higher than the actual closing price of the shares on the pricing date, which was $38.24.
Goldman Sachs & Co. is the underwriter.
Issuer: | Goldman Sachs Group, Inc.
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Issue: | Leveraged buffered notes
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Underlying fund: | iShares MSCI Emerging Markets ETF
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Amount: | $8.06 million
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Maturity: | Feb. 10, 2016
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any fund gain, subject to 25% cap; par if shares fall by up to 10%; 1.1111% loss for each 1% drop beyond 10%
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Initial share price: | $38.45
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Pricing date: | Jan. 24
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Settlement date: | Jan. 31
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Underwriter: | Goldman Sachs & Co.
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Fees: | 1.675%
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Cusip: | 38147V626
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