Published on 4/6/2017 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $11.22 million five-year trigger gears tied to S&P 500
By Marisa Wong
Morgantown, W.Va., April 6 – GS Finance Corp. priced $11.22 million of 0% trigger gears due March 31, 2022 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 greater than zero, the payout at maturity will be par of $10 plus 1.38 times the index return. Investors will receive par if the index declines by 25% or less and will lose 1% for each 1% decline from its initial level if the index declines by more than 25%.
Goldman, Sachs & Co. is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Trigger gears
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Underlying index: | S&P 500
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Amount: | $11,218,530
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Maturity: | March 31, 2022
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 1.38 times any index gain; par if the index declines by 25% or less; full exposure to decline from initial level if index declines by more than 25%
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Initial level: | 2,358.57
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Downside threshold: | 1,768.93, 75% of initial level
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Pricing date: | March 28
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Settlement date: | March 31
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Agent: | Goldman, Sachs & Co.
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Fees: | 3.85%
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Cusip: | 36251V267
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