Published on 11/7/2016 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $3.3 million digital notes linked to iShares MSCI EM
By Marisa Wong
Morgantown, W.Va., Nov. 7 – GS Finance Corp. priced $3.3 million of 0% digital notes due Feb. 1, 2018 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the fund return is greater than or equal to negative 15%, the payout at maturity will be $1,102.50 per $1,000 of notes. Otherwise, investors will lose 1.1765% for every 1% that the fund declines beyond 15%.
Goldman, Sachs & Co. is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Digital notes
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Underlying ETF: | iShares MSCI Emerging Markets
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Amount: | $3,298,000
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Maturity: | Feb. 1, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If fund return is greater than or equal to negative 15%, $1,102.50 per $1,000 of notes; otherwise, 1.1765% loss for every 1% decline beyond 15%
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Initial price: | $37.08
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Pricing date: | Oct. 27
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Settlement date: | Nov. 1
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Agent: | Goldman, Sachs & Co.
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Fees: | 0.1%
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Cusip: | 40054KN28
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