Correction: Goldman's digital notes linked to S&P 500 have no leverage

A story in the April 23 issue of the Prospect News Structured Products Daily incorrectly described the payout at maturity for Goldman Sachs Group, Inc.'s upcoming digital notes if the S&P 500 finishes above its initial level. A corrected version of the story follows:

By Angela McDaniels

Tacoma, Wash., April 22 - Goldman Sachs Group, Inc. plans to price 0% digital notes linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The tenor of the notes is expected to be 24 to 27 months.

If the index return is greater than zero, the payout at maturity will be par plus the greater of (a) 10% and (b) the index return, subject to a maximum settlement amount of $1,179 to $1,200 per $1,000 principal amount that will be set at pricing. Investors will receive par if the index declines by 10% or less and will lose 1.1111% for every 1% that it declines beyond 10%.

Goldman Sachs & Co. is the underwriter.

The Cusip number is 38147K885.

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