Published on 2/2/2017 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $344,000 of leveraged buffered notes on Russell 2000
By Tali Rackner
Norfolk, Va., Feb. 2 – GS Finance Corp. priced $344,000 of 0% leveraged buffered notes due July 31, 2019 linked to the Russell 2000 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 double the index return, subject to a maximum settlement amount of $1,230 for every $1,000 of notes.
Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that the index declines beyond the 10% buffer.
Goldman Sachs & Co. is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Leveraged buffered notes
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Underlying index: | Russell 2000
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Amount: | $344,000
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Maturity: | July 31, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus double the return, subject to $1,230 maximum settlement amount; par if index falls by up to 10%; full exposure to decline in index beyond 10%
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Initial index level: | 1,375.595
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Pricing date: | Jan. 26
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Settlement date: | Jan. 31
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Agent: | Goldman Sachs & Co.
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Fees: | 2.925%
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Cusip: | 40054KSR8
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