Published on 4/30/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $490,000 trigger notes tied to S&P Regional Banks
By Marisa Wong
Morgantown, W.Va., April 30 – GS Finance Corp. priced $490,000 of 0% trigger notes due May 1, 2019 linked to the S&P Regional Banks Select Industry index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the index finishes at or above the 85% trigger level, the payout at maturity will be par plus the greater of the index return, capped at 28.5%, and zero.
Otherwise, investors will lose 1% for each 1% decline of the index from its initial level.
Goldman, Sachs & Co. is the underwriter with JPMorgan as placement agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Trigger notes
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Underlying index: | S&P Regional Banks Select Industry index
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Amount: | $490,000
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Maturity: | May 1, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index finishes at or above the 85% trigger level, par plus the greater of the index return, capped at 28.5%, and zero; otherwise, 1% loss for each 1% decline of the index from its initial level
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Initial index level: | 1,892.09
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Pricing date: | April 13
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Settlement date: | April 18
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Underwriter: | Goldman, Sachs & Co. with JPMorgan as placement agent
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Fees: | 1.1%
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Cusip: | 40055AY76
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