Published on 5/1/2017 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $750,000 digital notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., May 1 – GS Finance Corp. priced $750,000 of 0% digital notes due May 2, 2022 linked 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 greater than or equal to negative 30%, the payout at maturity will be $1,285 per $1,000 principal amount of notes. Otherwise, investors will lose 1.4286% for every 1% that the index declines beyond 30%.
Goldman Sachs & Co. is the underwriter.
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 index: | S&P 500
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Amount: | $750,000
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Maturity: | May 2, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is greater than or equal to negative 30%, $1,285 per $1,000 principal amount of notes; otherwise, 1.4286% loss for every 1% that index declines beyond 30%
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Initial index level: | 2,388.77
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Pricing date: | April 27
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Settlement date: | May 2
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Underwriter: | Goldman Sachs & Co.
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Fees: | 0.6%
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Cusip: | 40054L7J7
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