Published on 4/18/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $150,000 buffered digital notes linked to S&P 500
By Marisa Wong
Morgantown, W.Va., April 18 – GS Finance Corp. priced $150,000 of 0% buffered digital notes due April 1, 2021 tied to the S&P 500 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 zero or positive, the payout at maturity will be the greater of the threshold settlement amount, $1,165 per $1,000 principal amount, and par plus the index return, capped at $1,330 per $1,000 principal amount.
If the index return is negative but not below negative 15%, the payout will be par. If the index return is below negative 15%, investors will lose 1% for every 1% that the index declines beyond 15%.
Goldman, Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Buffered digital notes
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| Underlying index: | S&P 500
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| Amount: | $150,000
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| Maturity: | April 1, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the index return is zero or positive, par plus greater of 16.5% and index return, capped at 33%; if the index return is negative but not below negative 15%, par; otherwise, investors will lose 1% for every 1% that the index declines beyond 15%
|
| Initial index level: | 2,605.00
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| Pricing date: | March 28
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| Settlement date: | April 2
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| Underwriter: | Goldman, Sachs & Co.
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| Fees: | 0.675%
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| Cusip: | 40055ATM9
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