Published on 3/8/2016 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $11.51 million leveraged buffered notes linked to S&P
By Devika Patel
Knoxville, Tenn., March 8 – GS Finance Corp. priced $11.51 million of 0% leveraged buffered notes due April 11, 2018 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 1.5 times the index return, subject to a maximum settlement amount of $1,270 per $1,000 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%.
Goldman Sachs & Co. is the agent.
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: | $11,505,000
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Maturity: | April 11, 2018
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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 1.5 times index gain, capped at $1,270 per $1,000 of notes; par if index falls by up to 10%; 1.1111% loss for every 1% drop beyond 10%
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Initial level: | 1,999.99
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Pricing date: | March 4
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Settlement date: | March 11
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Agent: | Goldman Sachs & Co.
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Fees: | 1.675%
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Cusip: | 40054K5V4
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