Published on 7/9/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman sells $802,000 five-year leveraged trigger notes tied to indexes
By Susanna Moon
Chicago, July 9 – GS Finance Corp. priced $802,000 of 0% notes due July 6, 2023 tied to the lesser performing of the S&P 500 index, Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each underlying index finishes above its initial, the payout at maturity will be par plus 1.7 times the gain of the worse performing index.
If either asset falls by up to its 60% trigger level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worse performing index.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Notes
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Underlying indexes: | S&P 500 index, Russell 2000 index and the Nasdaq-100 index
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Amount: | $802,000
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Maturity: | July 6, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each asset gains, par plus 1.7 times return of worse performing index; if either asset falls by up to 30%, par; otherwise, 1% loss for each 1% decline of worse performing index
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Initial levels: | 2,716.31 for S&P, 1,645.017 for Russell and 7,031.604 for Nasdaq
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Trigger levels: | 60% of initial levels
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Pricing date: | June 28
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Settlement date: | July 3
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 1.775%
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Cusip: | 40055QGC0
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