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

By Toni Weeks

San Luis Obispo, Calif., Nov. 19 – Goldman Sachs Group, Inc. plans to price 0% index-linked trigger notes due Dec. 9, 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 82% 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, subject to a floor of par.

If the index ever closes below the 82% 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, there is a maximum settlement amount of $1,150 per $1,000 principal amount of notes.

The final index level will be the average of the closing index levels on the five trading days ending Dec. 4, 2015.

The notes (Cusip: 38147QN51) are expected to price Nov. 21 and settle Nov. 26.

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

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