By William Gullotti
Buffalo, N.Y., July 30 – GS Finance Corp. priced $694,000 of 0% leveraged ETF-linked notes due June 5, 2026 tied to the ARK Innovation ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par plus quintuple the ETF return, subject to a maximum payout of par plus 75%.
If the ETF is flat or declines by up to 40%, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the ETF from its initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Issue: | Leveraged ETF-linked notes
|
| Underlying ETF: | ARK Innovation ETF
|
| Amount: | $694,000
|
| Maturity: | June 5, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the ETF return is positive, par plus five times the ETF return, capped par plus at 75%; if the ETF is flat or declines by up to 40%, par; otherwise, investors will be fully exposed to the decline of the ETF from its initial level
|
| Initial ETF level: | $111.30
|
| Trigger level: | 60% of initial level
|
| Pricing date: | June 2
|
| Settlement date: | June 7
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 1.19%
|
| Cusip: | 40057HH94
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
