By Marisa Wong
Morgantown, W.Va., April 7 – GS Finance Corp. priced $1.55 million of 0% capped buffer gears due Oct. 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 triple the index gain, subject to a maximum settlement amount of $12.55 for each $10 face amount.
If the index finishes at or below the initial level but at or above the downside threshold, 90% of the initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline 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: | Capped buffer gears
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| Underlying index: | S&P 500
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| Amount: | $1.55 million
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| Maturity: | Oct. 11, 2018
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If the index return is positive, par plus triple the index gain, subject to a maximum return of 25.5%; if the index finishes at or below the initial level but at or above 90% of the initial level, par; otherwise, 1% loss for each 1% decline beyond 10%
|
| Initial level: | 2,045.17
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| Pricing date: | April 5
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| Settlement date: | April 8
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| Agent: | Goldman, Sachs & Co.
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| Fees: | 0.175%
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| Cusip: | 36250E720
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