Published on 6/2/2016 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $7.07 million of PLUS linked to S&P 500 index
By Wendy Van Sickle
Columbus, Ohio, June 2 – GS Finance Corp. priced $7.07 million of Performance Leveraged Upside Securities due Sept. 6, 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.
The payout at maturity will be par of $10 plus 300% of any index gain, up to a cap of $11.395 per PLUS.
Investors will be fully exposed to any decline in the index.
Goldman, Sachs & Co. is the underwriter with Morgan Stanley Wealth Management as dealer.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Performance Leveraged Upside Securities
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Underlying index: | S&P 500
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Amount: | $7,068,120
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Maturity: | Sept. 6, 2017
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index return is positive, par of $10 plus triple the index return, subject to a maximum payment of $11.395 per PLUS; full exposure to any index decline
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Initial level: | 2,096.96
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Pricing date: | May 31
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Settlement date: | June 3
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Agent: | Goldman Sachs & Co.
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Fees: | 2.35%
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Cusip: | 36250Y163
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