Published on 5/25/2017 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.75 million index-linked notes tied to S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, May 25 – GS Finance Corp. priced $1.75 million of 0% notes due Nov. 24, 2022 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the return of each index is positive, the payout at maturity be the greater par plus of the return of lesser performing index and the threshold settlement amount of $1,250 per $1,000 of notes.
If the lesser-performing index falls by up to 30%, the payout will be par plus the absolute value of its return.
Otherwise, investors will be fully exposed to the decline of the lesser performing index.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Index-linked notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $1,745,000
|
| Maturity: | Nov. 24, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If return of each index is positive, greater of par plus return of lesser performing index and $1,250 per $1,000 of notes; if lesser performing index falls by up to 30%, par plus absolute value of its return; otherwise, full exposure to decline of lesser performing index
|
| Initial index levels: | 2,381.73 for S&P and 1,367.33 for Russell
|
| Pricing date: | May 19
|
| Settlement date: | May 24
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 0.25%
|
| Cusip: | 40054LCS1
|
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