Published on 1/15/2016 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $2 million leveraged notes linked to S&P 500
By Marisa Wong
Morgantown, W.Va., Jan. 15 – GS Finance Corp. priced $2 million of 0% leveraged index-linked notes due Jan. 30, 2017 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the index return is positive, the payout at maturity will be par plus triple the index return, subject to a maximum payment of $1,159 per $1,000 principal amount.
Investors will be fully exposed to any index decline.
Goldman, Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Leveraged index-linked notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $2 million
|
| Maturity: | Jan. 30, 2017
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index return is positive, par plus 300% of index return, subject to maximum payment of $1,159 per $1,000 principal amount; full exposure to any index decline
|
| Initial index level: | 1,890.28
|
| Final index level: | Average of closing index levels on five trading days ending Jan. 25, 2017
|
| Pricing date: | Jan. 13
|
| Settlement date: | Jan. 19
|
| Underwriters: | Goldman, Sachs & Co.
|
| Fees: | 1.1%
|
| Cusip: | 40054CBJ2
|
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