Published on 7/1/2016 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $1.06 million leveraged notes linked to the Dow
By Marisa Wong
Morgantown, W.Va., July 1 – GS Finance Corp. priced $1.06 million of 0% leveraged notes due July 2, 2019 linked to the Dow Jones industrial average, 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 1.5 times the return, subject to a maximum settlement amount of $1,285 per $1,000 principal amount.
If the index falls by up to 20%, the payout will be par plus the absolute value of the return. If the index falls by more than 20%, investors lose 1% for every 1% decline from the initial level.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Leveraged index-linked notes
|
| Underlying index: | Dow Jones industrial average
|
| Amount: | $1,064,000
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| Maturity: | July 2, 2019
|
| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If index return is positive, par plus 1.5 times the gain, capped at 28.5%; if index declines by up to 20%, par plus the absolute value of the return; if index falls by more than 20%, full exposure to decline
|
| Initial level: | 17,140.24
|
| Pricing date: | June 27
|
| Settlement date: | June 30
|
| Agent: | Goldman, Sachs & Co.
|
| Fees: | 3.25%
|
| Cusip: | 40054KEC6
|
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