Published on 3/20/2017 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $5.32 million leveraged notes on Stoxx Europe 600
By Marisa Wong
Morgantown, W.Va., March 20 – GS Finance Corp. priced $5.32 million of 0% leveraged notes due March 28, 2018 linked to the Stoxx Europe 600 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 3 times the index gain, with the return capped at 22%. Investors will be fully exposed to any index decline.
Goldman Sachs & Co. is the underwriter with JPMorgan as placement agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Leveraged notes
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Underlying index: | Stoxx Europe 600
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Amount: | $5,315,000
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Maturity: | March 28, 2018
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | If the index return is positive, par plus 3 times the index gain, with the return capped at 22%; otherwise, full exposure to losses
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Initial index level: | 373.23
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Final level: | Average of index closing levels on the five trading days ending March 23, 2018
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Pricing date: | March 10
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Settlement date: | March 15
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Underwriter: | Goldman, Sachs & Co. with JPMorgan as placement agent
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Fees: | 1.1%
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Cusip: | 40054KZQ2
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