Published on 10/12/2017 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $750,000 leveraged buffered notes linked to S&P 500
By Marisa Wong
Morgantown, W.Va., Oct. 12 – GS Finance Corp. priced $750,000 of 0% leveraged buffered index-linked notes due Oct. 7, 2022 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 115% of the index return. Investors will receive par if the index falls by up to 23% and lose 1% for every 1% decline in the index beyond 23%.
Goldman, Sachs & Co. is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Leveraged buffered index-linked notes
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Underlying index: | S&P 500
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Amount: | $750,000
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Maturity: | Oct. 7, 2022
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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 115% of the index return; par if index falls by up to 23%; 1% loss for every 1% decline in index beyond 23%
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Initial index level: | 2,537.74
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Pricing date: | Oct. 4
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Settlement date: | Oct. 10
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Underwriter: | Goldman, Sachs & Co. LLC
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Fees: | 1.35%
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Cusip: | 40054LUP7
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