Published on 2/5/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $7.58 million capped trigger gears on S&P MidCap 400
By Marisa Wong
Morgantown, W.Va., Feb. 5 – GS Finance Corp. priced $7,584,910 of 0% capped trigger gears due Jan. 29, 2021 linked to the S&P MidCap 400 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 2 times the index gain, subject to a maximum payout of par plus 30%.
If the index finishes at or below the initial level but at or above the downside threshold, 80% 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: | S&P MidCap 400
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Amount: | $7,584,910
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Maturity: | Jan. 29, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 2 times any index gain, return capped at 30%; 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: | 1,995.23
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Downside threshold: | 1,596.18, 80% of initial level
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Pricing date: | Jan. 26
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Settlement date: | Jan. 31
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Underwriter: | Goldman, Sachs & Co.
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Fees: | 2.675%
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Cusip: | 36254F681
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