Goldman Sachs to price leveraged buffered notes on oil and gas ETF

By Toni Weeks

San Luis Obispo, Calif., Feb. 4 – Goldman Sachs Group, Inc. plans to price 18-21-month 0% leveraged buffered notes linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus double any fund gain, subject to a maximum settlement amount of $1,290 to $1,340 for each $1,000 principal amount. The exact maximum payment will be set at pricing.

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.

Goldman Sachs & Co. is the underwriter.

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