By Toni Weeks
San Luis Obispo, Calif., March 20 - Goldman Sachs Group, Inc. priced $7.26 million of 0% leveraged buffered notes due Jan. 22, 2016 linked to the Industrial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.5 times any fund gain, subject to a maximum settlement of $1,171 per $1,000 of notes.
Investors will receive par if the fund falls by up to 10% and will lose 1.1111% for every 1% decline beyond the 10% buffer.
The initial share price of $52.32 is higher than the actual closing price at pricing, which was $52.26.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Leveraged buffered notes
|
| Underlying fund: | Industrial Select Sector SPDR fund
|
| Amount: | $7,256,000
|
| Maturity: | Jan. 22, 2016
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 150% of any fund gain, capped at 17.1%; par if fund falls by up to 10%; 1.1111% loss for every 1% decline beyond 10%
|
| Initial price: | $52.32
|
| Pricing date: | March 18
|
| Settlement date: | March 25
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 1.55%
|
| Cusip: | 38148A514
|
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