Published on 6/3/2016 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $345,000 leveraged buffered notes linked to S&P 500
By Marisa Wong
Morgantown, W.Va., June 3 – GS Finance Corp. priced $345,000 of 0% leveraged buffered index-linked notes due May 28, 2021 tied to the S&P 500, 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 105% of the index return. Investors will receive par if the index falls by up to 30% and lose 1% for every 1% decline in the index beyond 30%.
Goldman, Sachs & Co. is the underwriter.
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: | $345,000
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Maturity: | May 28, 2021
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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 105% of index return; par if index falls by up to 30%; 1% loss for every 1% decline in index beyond 30%
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Initial index level: | 2,090.54
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Pricing date: | May 25
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Settlement date: | May 31
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Underwriter: | Goldman, Sachs & Co.
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Fees: | 1.3%
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Cusip: | 40054KB88
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