Published on 5/9/2016 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $5.43 million trigger notes linked to S&P 500 index
By Wendy Van Sickle
Columbus, Ohio, May 9 – GS Finance Corp. priced $5.43 million of trigger notes due Jan. 8, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by the Goldman Sachs Group, Inc.
If the index closes at or above the 60% trigger level every day during the life of the notes, the payout at maturity will be the maximum settlement amount of $1,069.
If the index closes below the trigger level any day during the life of the notes but finishes above its initial level, the payout will be par of $,1000 plus the return, subject to the maximum settlement amount.
If the index falls below the 60% trigger any day during the life of the notes and finishes below its initial level but above the trigger level, the payout will be par.
If the index finishes below the trigger level, investors will be fully exposed to the loss.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Trigger notes
|
| Underlying index: | S&P 500
|
| Amount: | $5,429,000
|
| Maturity: | Jan. 8, 2018
|
| Coupon: | 0%
|
| Price: | Par of $1,000
|
| Payout at maturity: | If index closes at or above trigger level every day during life of notes, $1,069 per $1,000 note; if index finishes above initial level, but has closed below trigger level any day during notes’ life, par plus return, up to $1,069; if index closes below trigger any day during life of notes and finishes below initial level, but above trigger level, par; if index finishes below trigger, full exposure to loss
|
| Initial index level: | 2,050.63
|
| Pricing date: | May 5
|
| Settlement date: | May 12
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 0.25%
|
| Cusip: | 40054KCA2
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
