Published on 5/18/2017 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.8 million PLUS linked to Russell 2000
By Marisa Wong
Morgantown, W.Va., May 18 – GS Finance Corp. priced $2.8 million of 0% Performance Leveraged Upside Securities due Sept. 6, 2018 linked to the Russell 2000 index, according to a 424B2 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 of $10 plus 300% of the index return, subject to a maximum payout of $11.58 per PLUS. Investors will be fully exposed to any index decline.
Goldman Sachs & Co. LLC is the agent with Morgan Stanley Wealth Management as dealer.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Performance Leveraged Upside Securities
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Underlying index: | Russell 2000
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Amount: | $2,803,630
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Maturity: | Sept. 6, 2018
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 300% of any index gain, capped at $11.58 per PLUS; full exposure to losses
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Initial level: | 1,382.770
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Pricing date: | May 12
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Settlement date: | May 17
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Agent: | Goldman Sachs & Co. LLC
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Dealer: | Morgan Stanley Wealth Management
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Fees: | 2.35%
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Cusip: | 36251V614
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