Published on 11/6/2017 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $16.40 million capped trigger gears on Euro Stoxx 50
By Marisa Wong
Morgantown, W.Va., Nov. 6 – GS Finance Corp. priced $16,395,040 of 0% capped trigger gears due Oct. 30, 2020 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 3 times the index gain, subject to a maximum payout of par plus 47%.
If the index finishes at or below the initial level but at or above the downside threshold, 70% of the initial level, the payout will be par.
Otherwise, investors will be fully exposed to the index decline.
Goldman, Sachs & Co. is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Capped trigger gears
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Underlying index: | Euro Stoxx 50
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Amount: | $16,395,040
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Maturity: | Oct. 30, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 3 times any index gain, capped at 47%; par if index finishes at or below the initial level but at or above downside threshold; otherwise, full exposure to index decline
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Initial index level: | 3,652.23
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Downside threshold: | 2,556.56, 70% of initial level
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Pricing date: | Oct. 27
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Settlement date: | Oct. 31
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Underwriter: | Goldman, Sachs & Co.
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Fees: | 2.675%
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Cusip: | 36254F103
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