Published on 5/18/2017 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $12.64 million leveraged buffered notes on Euro Stoxx
By Marisa Wong
Morgantown, W.Va., May 18 – GS Finance Corp. priced $12.64 million of 0% leveraged buffered notes due June 13, 2018 linked to the Euro Stoxx 50 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 1.5 times the index return, subject to a maximum settlement amount of $1,162.45 per $1,000 principal amount. If the index falls by up to 10%, the payout will be par. If the index falls by more than 10%, investors will lose 1.1111% for every 1% decline beyond 10%.
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 buffered notes
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Underlying index: | Euro Stoxx 50
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Amount: | $12,638,000
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Maturity: | June 13, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index return is positive, par plus 1.5 times the index return, subject to a maximum settlement amount of $1,162.45 per $1,000 principal amount; if the index falls by up to 10%, par; if the index falls by more than 10%, 1.1111% loss for every 1% decline beyond 10%
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Initial index level: | 3,637.52
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Final level: | Average of closing levels on five averaging dates ending June 8, 2018
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Pricing date: | May 12
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Settlement date: | May 17
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Underwriter: | Goldman Sachs & Co. with JPMorgan as placement agent
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Fees: | 1.14%
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Cusip: | 40054LCB8
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