Published on 6/28/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $3.05 million of 18-month trigger notes tied to S&P 500
By Susanna Moon
Chicago, June 28 – GS Finance Corp. priced $3.05 million of 0% trigger notes due Dec. 26, 2019 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the underlying index finishes above its 82.75% trigger level, the payout at maturity will be par the greater of any gain and par.
Otherwise, investors will lose 1% for each 1% decline.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. is the underwriter. JPMorgan is the 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 500 index
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Amount: | $3,045,000
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Maturity: | Dec. 26, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If asset gains or falls by up to 17.25%, par plus greater of return and par; otherwise, 1% loss for each 1% decline
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Initial level: | 2,754.88
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Trigger level: | 82.75% of initial level
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Pricing date: | June 22
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Settlement date: | June 27
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Agent: | Goldman Sachs & Co. LLC with JPMorgan as placement agent
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Fees: | 1.35%
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Cusip: | 40055QGG1
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