Published on 7/25/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $3.92 million trigger notes linked to S&P 500
By Marisa Wong
Morgantown, W.Va., July 25 – GS Finance Corp. priced $3.92 million of 0% trigger notes due Jan. 23, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
If the final index level is greater than or equal to 81.85% of the initial index level, the payout at maturity will be par plus the greater of the index return and zero.
If the final index level is less than 81.85% of the initial index level, investors will lose 1% for every 1% that the final index level is less than the initial index 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 500 index
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Amount: | $3,922,000
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Maturity: | Jan. 23, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the final index level is greater than or equal to 81.85% of the initial index level, par plus the greater of zero and the index return; otherwise, 1% loss for every 1% that the final index level is less than the initial index level
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Initial index level: | 2,801.83
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Final level: | Average of closing levels on five averaging dates ending Jan. 17, 2020
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Pricing date: | July 20
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Settlement date: | July 25
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Underwriter: | Goldman, Sachs & Co. with JPMorgan as placement agent
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Fees: | 1.35%
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Cusip: | 40055QN81
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