Published on 7/10/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $652,000 index-linked notes on S&P 500, Russell 2000
By Marisa Wong
Morgantown, W.Va., July 10 – GS Finance Corp. priced $652,000 of 0% index-linked notes due June 29, 2023 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 1.25 times the return of the lesser performing index.
If either index falls but the return of each index is at least negative 35%, the payout will be par plus the absolute value of the lesser performing index.
If either index falls by more than 35%, investors will be fully exposed to the decline of the worse 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: | $652,000
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Maturity: | June 29, 2023
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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 1.25 times the return of the lesser performing index; if either index falls but the return of each index is at least negative 35%, par plus absolute value of return of lesser performing index; if either index falls by more than 35%, investors will be fully exposed to the decline of the worse performing index
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Initial levels: | 2,723.06 for S&P and 1,668.527 for Russell
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Pricing date: | June 26
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Settlement date: | June 29
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Underwriter: | Goldman Sachs & Co.
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Fees: | 4.56%
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Cusip: | 40055QC83
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