Published on 4/24/2014 in the Prospect News Structured Products Daily.
New Issue: Goldman Sachs prices $12.34 million buffered digital notes tied to Stoxx Europe 600
By Toni Weeks
San Luis Obispo, Calif., April 24 - Goldman Sachs Group, Inc. priced $12.34 million of 0% buffered digital index-linked notes due March 25, 2016 tied to the Stoxx Europe 600 index, converted to dollars, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than or equal to the initial level, they payout at maturity will be the maximum settlement amount of $1,162.50 per $1,000 principal amount.
Investors will receive par if the index falls by up to 10% and will lose 1.1111% for every 1% index decline beyond the 10% buffer.
The initial level and final level of the index will be adjusted to represent the dollar value of the index.
Goldman Sachs & Co. is the underwriter.
Issuer: | Goldman Sachs Group, Inc.
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Issue: | Buffered digital index-linked notes
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Underlying index: | Stoxx Europe 600
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Amount: | $12,342,000
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Maturity: | March 25, 2016
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes at or above initial level, $1,162.50 per $1,000 note; if index falls by up to 10%, par; otherwise, 1.1111% loss for every 1% decline beyond 10% buffer
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Initial level: | 464.9834395
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Initial exchange rate: | 1.37965
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Buffer level: | 90% of initial level
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Pricing date: | April 22
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Settlement date: | April 29
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Agent: | Goldman Sachs & Co.
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Fees: | 1.55%
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Cusip: | 38148A753
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