Published on 9/8/2016 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $8.08 million leveraged notes linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, Sept. 8 – GS Finance Corp. priced $8.08 million of 0% leveraged notes due March 9, 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.
If the index return is positive, the payout at maturity will be par plus three times the index return, subject to a maximum settlement of $1,174 per $1,000 note. Otherwise, investors will lose 1% for every 1% that the index declines from its initial level.
Goldman Sachs & Co. is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Leveraged index-linked notes
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Underlying index: | S&P 500
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Amount: | $8,078,000
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Maturity: | March 9, 2018
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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 three times index return, up to 17.4% maximum return; otherwise, full exposure to index’s decline
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Initial index level: | 2,186.48
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Pricing date: | Sept. 6
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Settlement date: | Sept. 13
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Agent: | Goldman Sachs & Co.
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Fees: | 1.35%
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Cusip: | 40054KK54
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