Published on 4/27/2016 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $2.51 million notes linked to S&P 500 index
By Marisa Wong
Morgantown, W.Va., April 27 – GS Finance Corp. priced $2.51 million of 0% notes due May 10, 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 zero or positive, the payout at maturity will be par plus the index return, subject to a maximum settlement amount of $1,070 per $1,000 of notes.
If the index return is negative but the final index level is at least 83.95% of the initial level, the payout will be par plus the absolute value of the index return.
Otherwise, investors will be fully exposed to the index decline.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Index-linked notes
|
| Underlying index: | S&P 500
|
| Amount: | $2,505,000
|
| Maturity: | May 10, 2017
|
| Coupon: | 0%
|
| Price: | Par of $1,000
|
| Payout at maturity: | If index return is zero or positive, par plus index return, capped at $1,070 per $1,000 of notes; if return is negative but final level is at least 83.95% of initial level, par plus absolute value of return; otherwise, full exposure to index decline
|
| Initial level: | 2,091.58
|
| Final level: | Average of index closing levels on five trading days ending May 5, 2017
|
| Pricing date: | April 22
|
| Settlement date: | April 27
|
| Agent: | Goldman Sachs & Co.
|
| Fees: | 1.1%
|
| Cusip: | 40054KAX4
|
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