Goldman Sachs to price index-linked trigger notes tied to S&P 500

By Toni Weeks

San Luis Obispo, Calif., July 2 – Goldman Sachs Group, Inc. plans to price 0% index-linked trigger notes due July 22, 2015 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index closes at or above 85% of the initial index level every trading day during the life of the notes, the payout at maturity will be par plus the index return, with a floor of par.

If the index ever closes below the 85% trigger level during the life of the notes, the payout will be par plus the index return, with full exposure to losses.

In either case, the maximum settlement amount will be $1,150 per $1,000 of notes.

The final index level is the average of the closing index levels on the five trading days ending July 17, 2015.

The notes (Cusip: 38147QC79) are expected to price July 3 and settle July 9.

Goldman Sachs & Co. is the underwriter. J.P. Morgan Securities LLC is the placement agent.

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