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Goldman Sachs plans to sell leveraged buffered notes linked to S&P 500
By Susanna Moon
Chicago, Aug. 16 - Goldman Sachs Group, Inc. plans to price 0% leveraged buffered index-linked notes due Sept. 12, 2011 based on the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index gain, up to a maximum settlement amount of $1,167 per $1,000 principal amount.
Investors will receive par if the index falls by up to 10% and will lose 1.1111% for each 1% drop beyond 10%.
The notes (Cusip: 38143ULY5) will price on Aug. 20 and settle on Aug. 25.
Goldman, Sachs & Co. is the underwriter with J.P. Morgan Securities Inc. as co-agent.
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