Published on 7/1/2014 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $2.2 million trigger performance notes linked to S&P 500
By Jennifer Chiou
New York, July 1 – Goldman Sachs Group, Inc. priced $2.2 million of 0% trigger performance securities due June 28, 2024 linked to the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 155% of the index return. Investors will receive par if the index falls by 50% or less and will be fully exposed to losses from the initial level if it falls by more than 50%.
Goldman Sachs & Co. is the agent.
Issuer: | Goldman Sachs Group, Inc.
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Issue: | Trigger performance securities
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Underlying index: | S&P 500
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Amount: | $2.2 million
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Maturity: | June 28, 2024
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 155% of any index gain; par if index falls by 50% or less; full exposure to losses if index finishes below trigger level
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Initial index level: | 1,957.22
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Trigger level: | 978.61, 50% of initial level
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Pricing date: | June 26
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Settlement date: | June 30
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Agent: | Goldman Sachs & Co.
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Fees: | 5.4%
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Cusip: | 38148C429
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