Published on 6/3/2016 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $110,000 leveraged buffered notes on iShares EAFE
By Marisa Wong
Morgantown, W.Va., June 3 – GS Finance Corp. priced $110,000 of 0% leveraged buffered notes due May 31, 2018 tied to the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the fund return is positive, the payout at maturity will be par plus 2 times the gain, subject to a maximum payment of $1,250 per $1,000 principal amount. Investors will receive par if the fund falls by up to 10% and lose 1% for every 1% decline in the fund beyond 10%.
Goldman, Sachs & Co. is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Leveraged buffered notes
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Underlying ETF: | iShares MSCI EAFE ETF
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Amount: | $110,000
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Maturity: | May 31, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If fund return is positive, par plus 200% of fund gain, subject to maximum payment of $1,250 per $1,000 principal amount; par if ETF falls by up to 10%; 1% loss for every 1% decline beyond 10%
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Initial price: | $58.56
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Pricing date: | May 25
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Settlement date: | May 31
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Underwriter: | Goldman, Sachs & Co.
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Fees: | 0.925%
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Cusip: | 40054KBH8
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