Published on 5/24/2016 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $844,000 of leveraged notes linked to Apple
By Wendy Van Sickle
Columbus, Ohio, May 24 – GS Finance Corp. priced $844,000 of 0% leveraged notes due Nov. 23, 2016 linked to Apple Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The payout at maturity will be par plus triple any stock gain, up to a maximum settlement amount of $1,173.50 for each $1,000 principal amount.
Investors will be exposed to any losses.
Goldman Sachs & Co. is the underwriter with JPMorgan as placement agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Leveraged equity-linked notes
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| Underlying stock: | Apple Inc.
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| Amount: | $844,000
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| Maturity: | Nov. 23, 2016
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 300% of any gain in the share price, with maximum payout of $1,173.50 per $1,000 of notes; full exposure to any share price decline
|
| Initial share price: | $95.22
|
| Pricing date: | May 20
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| Settlement date: | May 25
|
| Agents: | Goldman, Sachs & Co. and J.P. Morgan Securities LLC
|
| Fees: | 0.55%
|
| Cusip: | 40054KCR5
|
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