Published on 5/4/2017 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $100,000 leveraged buffered notes on S&P 500
By Marisa Wong
Morgantown, W.Va., May 4 – GS Finance Corp. priced $100,000 of 0% leveraged buffered notes due April 30, 2019 tied 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 130% of the index return, subject to a maximum payment of $1,155 per $1,000 principal amount. Investors will receive par if the index falls by up to 15% and lose 1% for every 1% decline in the index beyond 15%.
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 notes
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Underlying index: | S&P 500
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Amount: | $100,000
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Maturity: | April 30, 2019
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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 130% of index return, subject to maximum payment of $1,155 per $1,000 principal amount; par if index falls by up to 15%; 1% loss for every 1% decline in index beyond 15%
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Initial index level: | 2,388.61
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Pricing date: | April 25
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Settlement date: | April 28
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Underwriter: | Goldman Sachs & Co.
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Fees: | 0.925%
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Cusip: | 40054L6D1
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