Published on 12/16/2014 in the Prospect News Structured Products Daily.
New Issue: Goldman Sachs prices $1.06 million trigger notes linked to S&P 500
By Toni Weeks
San Luis Obispo, Calif., Dec. 16 – Goldman Sachs Group, Inc. priced $1,055,000 of 0% trigger notes due Dec. 30, 2015 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index's closing level is greater than or equal to 82.75% of the initial level on every day during the life of the notes and the final index level, which will be the average of the index’s closing levels on the five trading days ending Dec. 24, 2015, is greater than or equal to 82.75% of the initial level, the payout at maturity will be par plus the greater of zero and the index return.
Otherwise, the payout will be par plus the index return, with exposure to any losses.
In either case, the maximum settlement amount is $1,150.00 per $1,000 principal amount of notes.
Goldman Sachs & Co. is the underwriter with J.P. Morgan Securities LLC as placement agent.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Trigger notes
|
| Underlying index: | S&P 500
|
| Amount: | $1,055,000
|
| Maturity: | Dec. 30, 2015
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index's closing level is greater than or equal to 82.75% of initial level on every day during life of notes and final index level is greater than or equal to 82.75% of initial level, par plus greater of zero and index return; if index's closing level is less than 82.75% of initial level on any day during life of notes or final index level is less than 82.75% of initial level, par plus index return, with exposure to any losses; maximum settlement amount is $1,150.00 per $1,000 principal amount of notes
|
| Initial index level: | 2,002.33
|
| Final index level: | Average of index’s closing levels on the five trading days ending Dec. 24, 2015
|
| Pricing date: | Dec. 12
|
| Settlement date: | Dec. 17
|
| Underwriter: | Goldman Sachs & Co.
|
| Placement agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.1%
|
| Cusip: | 38147QQC3
|
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