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Goldman Sachs plans two-year absolute return notes linked to S&P 500
By Susanna Moon
Chicago, May 12 – GS Finance Corp. plans to price 0% notes due May 31, 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.
The payout at maturity will be par plus any index gain, up to a maximum upside settlement amount of $1,220 for each $1,000 principal amount.
If the index falls by up to the 78% knock-out level, the payout will be par plus the absolute value of the index return.
Otherwise, investors will be fully exposed to any losses.
Goldman Sachs & Co. is the underwriter.
The notes will price on May 25 and settle on June 2.
The Cusip number is 40054KAT3.
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