Published on 8/1/2017 in the Prospect News Structured Products Daily.
New Issue: Goldman sells $578,000 five-year absolute return notes tied to S&P 500, Russell
By Susanna Moon
Chicago, Aug. 1 – GS Finance Corp. priced $578,000 of 0% notes due July 29, 2022 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
If each index finishes at or above its initial level, the payout at maturity will be par plus 1.4 times the return of the worse performing index.
If either index falls but finishes at or above its 70% barrier level, the payout will be par plus the absolute value of the return of he worse performing index.
Otherwise, investors will be fully exposed to any losses of the worse performing index.
Goldman Sachs Group, Inc. is the guarantor.
Goldman, Sachs & Co. is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Notes
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Underlying indexes: | S&P 500, Russell 2000
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Amount: | $578,000
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Maturity: | July 29, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index gains, par plus 1.4 times the return of worse performing index; if either index falls by up to 30%, par plus absolute return of worse performing index; otherwise, full exposure to any losses of worse performing index
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Initial levels: | 2,477.83 for S&P, 1,442.279 for Russell
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Trigger levels: | 70% of initial levels
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Pricing date: | July 26
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Settlement date: | July 31
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Underwriter: | Goldman Sachs & Co.
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Fees: | 4.65%
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Cusip: | 40054LJG0
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