By Angela McDaniels
Tacoma, Wash., March 3 – GS Finance Corp. priced $5.1 million of 0% leveraged buffered notes due Nov.2 4, 2017 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 positive, the payout at maturity will be par plus two times the index return, subject to a maximum settlement amount of $1,200 per $1,000 principal amount of notes. Investors will receive par if the index declines by 10% or less and will lose 1.1111% for every 1% that the index declines beyond 10%.
The initial index level set for the notes, 1,959.00, is lower than the actual closing level of the index on the pricing date, which was 1,978.35.
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 notes
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Underlying index: | S&P 500
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Amount: | $5.1 million
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Maturity: | Nov. 24, 2017
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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 two times index return, up to 12% maximum return; par if index declines by 10% or less; 1.1111% loss for every 1% that index declines beyond 10%
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Initial index level: | 1,959
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Pricing date: | March 1
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Settlement date: | March 8
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Underwriter: | Goldman Sachs & Co.
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Fees: | 1.4%
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Cusip: | 40054K5A0
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