Published on 7/6/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.03 million index-linked notes tied to S&P, Russell
By Tali Rackner
Minneapolis, July 6 – GS Finance Corp. priced $2.03 million of 0% index-linked notes due Jan. 3, 2022 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the return of each index is zero or positive, the payout at maturity will be par plus 1.35 times the return of the lesser-performing index.
If either index falls by up to 30%, the payout will be par plus the absolute value of the lesser-performing index.
If either index falls by more than 30%, investors will be fully exposed to the decline of the lesser-performing index.
Goldman, Sachs & Co. is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Index-linked notes
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Underlying indexes: | S&P 500, Russell 2000
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Amount: | $2,031,000
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Maturity: | Jan. 3, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the return of each index is zero or positive, par plus 1.35 times the return of the lesser-performing index; if either index falls by up to 30%, par plus the absolute value of the lesser-performing index; otherwise, investors will be fully exposed to the decline of the lesser-performing index
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Initial levels: | 2,718.37 for S&P and 1,643.069 for Russell
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Pricing date: | June 29
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Settlement date: | July 5
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Underwriter: | Goldman Sachs & Co.
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Fees: | 1.14%
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Cusip: | 40055QEE8
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