Published on 9/13/2017 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $545,000 trigger notes linked to S&P 500
By Marisa Wong
Morgantown, W.Va., Sept. 13 – GS Finance Corp. priced $545,000 of 0% trigger notes due March 6, 2019 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 final index level is greater than or equal to 85.85% of the initial index level, the payout at maturity will be par plus the greater of the index return and zero. Otherwise, investors will lose 1% for every 1% that the final index level is less than the initial index level.
Goldman Sachs & Co. is the underwriter with JPMorgan as placement agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Trigger notes
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Underlying index: | S&P 500
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Amount: | $545,000
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Maturity: | March 6, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the final index level is greater than or equal to 85.85% of the initial index level, par plus the greater of the index return and zero; otherwise, 1% loss for every 1% that the final index level is less than the initial index level
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Initial index level: | 2,476.55
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Final level: | Average of closing levels on five averaging dates ending March 1, 2019
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Pricing date: | Sept. 1
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Settlement date: | Sept. 7
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Underwriter: | Goldman, Sachs & Co. with JPMorgan as placement agent
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Fees: | 1.35%
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Cusip: | 40054LQL1
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