Published on 10/11/2016 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $1.46 million trigger notes tied to Stoxx Europe 600
By Marisa Wong
Morgantown, W.Va., Oct. 11 – GS Finance Corp. priced $1.46 million of 0% trigger notes due Nov. 15, 2017 linked to the Stoxx Europe 600 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the final index level is greater than or equal to 85% of the initial index level, the payout at maturity will be par plus 8.75%. Otherwise, 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 J.P. Morgan Securities LLC 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: | Stoxx Europe 600
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Amount: | $1,455,000
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Maturity: | Nov. 15, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final index level is greater than or equal to 85% of initial index level, par plus 8.75%; otherwise, 1% loss for every 1% that final index level is less than initial index level
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Initial index level: | 342.92
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Final index level: | Average of index’s closing levels on five trading days ending No. 10, 2017
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Pricing date: | Sept. 30
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Settlement date: | Oct. 5
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Underwriter: | Goldman Sachs & Co.
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Placement agent: | J.P. Morgan Securities LLC
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Fees: | 1.14%
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Cusip: | 40054KL46
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