Obligation Goldman Sachs 0% ( US38147QH584 ) en USD

Goldman Sachs

100 % ▼

Etas-Unis

US38147QH584 ( en USD )

0%

10/02/2022 - Obligation échue

Prospectus brochure de l'obligation Goldman Sachs US38147QH584 en USD 0%, échue

1 000 USD

930 000 USD

38147QH58

N/A

NR

Goldman Sachs est une banque d'investissement multinationale américaine offrant des services financiers tels que la banque d'investissement, la gestion d'actifs, la gestion de patrimoine et la vente et négociation de titres.

L'Obligation émise par Goldman Sachs ( Etas-Unis ) , en USD, avec le code ISIN US38147QH584, paye un coupon de 0% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 10/02/2022

L'Obligation émise par Goldman Sachs ( Etas-Unis ) , en USD, avec le code ISIN US38147QH584, a été notée NR par l'agence de notation Moody's.

Pricing Supplement No. 3164 dated October 3, 2014
Page 1 of 29
424B2 1 d800940d424b2.htm PRICING SUPPLEMENT NO. 3164 DATED OCTOBER 3, 2014
Table of Contents
Filed Pursuant to Rule 424(b)(2)
Registration Statement No. 333-198735
The Goldman Sachs Group, Inc.
$930,000
S&P 500 Index-Linked Notes due 2022
®
The notes do not bear interest. The amount that you will be paid on your notes on the stated maturity date
(February 10, 2022) is based on the performance of the S&P 500® Index as measured from the trade date
(October 3, 2014) to and including the determination date (February 3, 2022). If the final index level on the
determination date is greater than the initial index level of 1,967.90, the return on your notes will be positive,
subject to the maximum settlement amount of $2,000.00 for each $1,000 face amount of your notes. If the
final index level is equal to or less than the initial index level, you will receive the face amount of your
notes.
To determine your payment at maturity, we will calculate the index return, which is the percentage increase or
decrease in the final index level from the initial index level. On the stated maturity date, for each $1,000 face
amount of your notes, you will receive an amount in cash equal to:
·
if the index return is positive (the final index level is greater than the initial index level), the sum of
(i) $1,000 plus (ii) the product of $1,000 times the index return, subject to the maximum settlement amount;
or
·
if the index return is zero or negative (the final index level is equal to or less than the initial index level),
$1,000.
Your investment in the notes involves certain risks, including, among other things, our credit risk. See
page PS-11.
You should read the additional disclosure herein so that you may better understand the terms and risks of your
investment.
The estimated value of your notes at the time the terms of your notes were set on the trade date (as
determined by reference to pricing models used by Goldman, Sachs & Co. (GS&Co.) and taking into
account our credit spreads) was equal to approximately $963 per $1,000 face amount, which is less
than the original issue price. The value of your notes at any time will reflect many factors and cannot
be predicted; however, the price (not including GS&Co.'s customary bid and ask spreads) at which
GS&Co. would initially buy or sell notes (if it makes a market, which it is not obligated to do) and the
value that GS&Co. will initially use for account statements and otherwise equals approximately $995
per $1,000 face amount, which exceeds the estimated value of your notes as determined by reference
to these models. The amount of the excess will decline on a straight line basis over the period from the
trade date through October 5, 2015.
Original issue date:
October 10, 2014
Original issue price:
100.00% of the face
amount
Underwriting discount: 0.65% of the face amount
Net proceeds to the
99.35% of the face
issuer:
amount
Neither the Securities and Exchange Commission nor any other regulatory body has approved or
disapproved of these securities or passed upon the accuracy or adequacy of this prospectus. Any
representation to the contrary is a criminal offense. The notes are not bank deposits and are not
insured by the Federal Deposit Insurance Corporation or any other governmental agency, nor are they
obligations of, or guaranteed by, a bank.
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Pricing Supplement No. 3164 dated October 3, 2014
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Goldman, Sachs & Co.
Pricing Supplement No. 3164 dated October 3, 2014.
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Pricing Supplement No. 3164 dated October 3, 2014
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Table of Contents
The issue price, underwriting discount and net proceeds listed above relate to the notes we sell initially. We
may decide to sell additional notes after the date of this pricing supplement, at issue prices and with
underwriting discounts and net proceeds that differ from the amounts set forth above. The return (whether
positive or negative) on your investment in notes will depend in part on the issue price you pay for such notes.
Goldman Sachs may use this prospectus in the initial sale of the notes. In addition, Goldman, Sachs & Co. or
any other affiliate of Goldman Sachs may use this prospectus in a market-making transaction in a note after its
initial sale. Unless Goldman Sachs or its agent informs the purchaser otherwise in the confirmation of
sale, this prospectus is being used in a market-making transaction.
About Your Prospectus
The notes are part of the Medium-Term Notes, Series D program of The Goldman Sachs Group, Inc. This
prospectus includes this pricing supplement and the accompanying documents listed below. This pricing
supplement constitutes a supplement to the documents listed below and should be read in conjunction with
such documents:
·
Product supplement no. 3141 dated September 15, 2014
·
General terms supplement dated September 26, 2014
·
Prospectus supplement dated September 15, 2014
·
Prospectus dated September 15, 2014
The information in this pricing supplement supersedes any conflicting information in the documents listed
above. In addition, some of the terms or features described in the listed documents may not apply to your
notes.
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Pricing Supplement No. 3164 dated October 3, 2014
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Table of Contents
S&P 500® Index-Linked Notes due 2022
INVESTMENT THESIS
·
For investors willing to forgo interest payments for the potential to earn 100.00% of any positive return of
the underlier, up to a maximum payment of 200.00% of the face amount
DETERMINING THE CASH SETTLEMENT AMOUNT
At maturity, for each $1,000 face amount, the investor will receive (in each case as a percentage of the face
amount):
·
If the final underlier level is above 100.00% of its initial level, 100.00% plus the underlier return, subject to
a maximum of 200.00%
·
If the final underlier level is at or below its initial level, 100.00%
KEY TERMS
Issuer:
The Goldman Sachs Group, Inc.
Underlier:
The S&P 500 Index (Bloomberg
®
symbol, "SPX Index")
Face Amount:
$930,000 in the aggregate; each note will have a face amount equal to
$1,000
Trade Date:
October 3, 2014
Settlement Date:
October 10, 2014
Determination Date:
February 3, 2022
Stated Maturity Date:
February 10, 2022
Initial Underlier Level:
1,967.90
Final Underlier Level:
The closing level of the underlier on the determination date
Underlier Return:
The quotient of (i) the final underlier level minus the initial underlier level
divided by (ii) the initial underlier level, expressed as a positive or negative
percentage.
Upside Participation Rate:
100.00%
Maximum Settlement Amount $2,000.00
Cap Level
200.00% of the initial underlier level
CUSIP/ISIN:
38147QH58 / US38147QH584
HYPOTHETICAL PAYMENT AT MATURITY
Hypothetical Final
Hypothetical Cash
Underlier Level (as % of
Settlement Amount (as % of
Initial Underlier Level)
Face Amount)
250.000%
200.000%
200.000%
200.000%
150.000%
150.000%
125.000%
125.000%
100.000%
100.000%
75.000%
100.000%
50.000%
100.000%
25.000%
100.000%
0.000%
100.000%
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Pricing Supplement No. 3164 dated October 3, 2014
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RISKS
Please read the section entitled "Additional Risk Factors Specific to Your Notes" of this pricing supplement
as well as the risks and considerations described in the accompanying prospectus dated September 15,
2014, in the accompanying prospectus supplement dated September 15, 2014, under "Additional Risk
Factors Specific to the Underlier-Linked Notes" in the accompanying product supplement no. 3141 dated
September 15, 2014 and under "Additional Risk Factors Specific to the Notes" in the accompanying
general terms supplement dated September 26, 2014.
PS-3
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Table of Contents
SUMMARY INFORMATION
We refer to the notes we are offering by this pricing supplement as the "offered notes" or the "notes". Each
of the offered notes, including your notes, has the terms described below. Please note that in this pricing
supplement, references to "The Goldman Sachs Group, Inc.", "we", "our" and "us" mean only The Goldman
Sachs Group, Inc. and do not include its consolidated subsidiaries. Also, references to the "accompanying
prospectus" mean the accompanying prospectus, dated September 15, 2014, as supplemented by the
accompanying prospectus supplement, dated September 15, 2014, of The Goldman Sachs Group, Inc.
relating to the Medium-Term Notes, Series D program of The Goldman Sachs Group, Inc., references to the
"accompanying general terms supplement" mean the accompanying general terms supplement, dated
September 26, 2014, of The Goldman Sachs Group, Inc. and references to the "accompanying product
supplement no. 3141" mean the accompanying product supplement no. 3141, dated September 15, 2014,
of The Goldman Sachs Group, Inc.
This section is meant as a summary and should be read in conjunction with the section entitled "General
Terms of the Underlier-Linked Notes" on page S-27 of the accompanying product supplement no. 3141 and
"Supplemental Terms of the Notes" on page S-13 of the accompanying general terms supplement. Please
note that certain features, as noted below, described in the accompanying product supplement no. 3141
and general terms supplement are not applicable to the notes. This pricing supplement supersedes any
conflicting provisions of the accompanying product supplement no. 3141 or the accompanying general
terms supplement.
Key Terms
Issuer: The Goldman Sachs Group, Inc.
Underlier: the S&P 500 I
®
ndex (Bloomberg symbol, "SPX Index"), as published by Standard & Poor's Financial
Services LLC ("Standard & Poor's")
Specified currency: U.S. dollars ("$")
Terms to be specified in accordance with the accompanying product supplement no. 3141:
·
type of notes: notes linked to a single underlier
·
exchange rates: not applicable
·
averaging dates: not applicable
·
redemption right or price dependent redemption right: not applicable
·
cap level: yes, as described below
·
downside participation percentage: not applicable
·
interest: not applicable
Face amount: each note will have a face amount of $1,000; $930,000 in the aggregate for all the offered
notes; the aggregate face amount of the offered notes may be increased if the issuer, at its sole option, decides
to sell an additional amount of the offered notes on a date subsequent to the date of this pricing supplement
Purchase at amount other than face amount: the amount we will pay you at the stated maturity date for your
notes will not be adjusted based on the issue price you pay for your notes, so if you acquire notes at a premium
(or discount) to face amount and hold them to the stated maturity date, it could affect your investment in a
number of ways. The return on your investment in such notes will be lower (or higher) than it would have been
had you purchased the notes at face amount. Also, the cap level would be triggered at a lower (or higher)
percentage return than indicated below, relative to your initial investment. See "Additional Risk Factors Specific
to Your Notes -- If You Purchase Your Notes at a Premium to Face Amount, the Return on Your Investment
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Pricing Supplement No. 3164 dated October 3, 2014
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Will Be Lower Than the Return on Notes Purchased at Face Amount and the Impact of Certain Key Terms of
the Notes Will be Negatively Affected" on page PS-13 of this pricing supplement.
Supplemental discussion of U.S. federal income tax consequences: The notes will be treated as debt
instruments subject to the special rules governing contingent payment debt instruments for U.S. federal income
tax purposes. Under this treatment, it is the opinion of Sidley Austin LLP that if you are a
PS-4
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Table of Contents
U.S. individual or taxable entity, you generally should be required to pay taxes on ordinary income from the
notes over their term based on the comparable yield for the notes. In addition, any gain you may recognize on
the sale, exchange or maturity of the notes will be taxed as ordinary interest income.
Cash settlement amount (on the stated maturity date): for each $1,000 face amount of your notes, we will
pay you on the stated maturity date an amount in cash equal to:
·
if the final underlier level is greater than or equal to the cap level, the maximum settlement amount;
·
if the final underlier level is greater than the initial underlier level but less than the cap level, the sum of
(1) $1,000 plus (2) the product of (i) $1,000 times (ii) the upside participation rate times (iii) the underlier
return; or
·
if the final underlier level is equal to or less than the initial underlier level, $1,000.
Initial underlier level: 1,967.90
Final underlier level: the closing level of the underlier on the determination date, except in the limited
circumstances described under "Supplemental Terms of the Notes -- Consequences of a Market Disruption
Event or a Non-Trading Day" on page S-19 of the accompanying general terms supplement and subject to
adjustment as provided under "Supplemental Terms of the Notes -- Discontinuance or Modification of an
Underlier" on page S-23 of the accompanying general terms supplement
Underlier return: the quotient of (1) the final underlier level minus the initial underlier level divided by (2) the
initial underlier level, expressed as a percentage
Upside participation rate: 100.00%
Cap level: 200.00% of the initial underlier level
Maximum settlement amount: $2,000.00
Trade date: October 3, 2014
Original issue date (settlement date): October 10, 2014
Determination date: February 3, 2022, subject to adjustment as described under "Supplemental Terms of the
Notes -- Determination Date" on page S-14 of the accompanying general terms supplement
Stated maturity date: February 10, 2022, subject to adjustment as described under "Supplemental Terms of
the Notes -- Stated Maturity Date" on page S-13 of the accompanying general terms supplement
No interest: the offered notes do not bear interest
No listing: the offered notes will not be listed on any securities exchange or interdealer quotation system
No redemption: the offered notes will not be subject to redemption right or price dependent redemption right
Closing level: as described under "Supplemental Terms of the Notes -- Special Calculation Provisions --
Closing Level" on page S-27 of the accompanying general terms supplement
Business day: as described under "Supplemental Terms of the Notes -- Special Calculation Provisions --
Business Day" on page S-27 of the accompanying general terms supplement
Trading day: as described under "Supplemental Terms of the Notes -- Special Calculation Provisions --
Trading Day" on page S-27 of the accompanying general terms supplement
Use of proceeds and hedging: as described under "Use of Proceeds" and "Hedging" on page S-31 of the
accompanying product supplement no. 3141
ERISA: as described under "Employee Retirement Income Security Act" on page S-43 of the accompanying
product supplement no. 3141
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Pricing Supplement No. 3164 dated October 3, 2014
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Supplemental plan of distribution: as described under "Supplemental Plan of Distribution" on page S-44 of
the accompanying product supplement no. 3141; The Goldman Sachs Group, Inc. estimates that its share of
the total offering expenses, excluding underwriting discounts and commissions, will be approximately $10,000.
PS-5
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Table of Contents
The Goldman Sachs Group, Inc. has agreed to sell to Goldman, Sachs & Co., and Goldman, Sachs & Co. has
agreed to purchase from The Goldman Sachs Group, Inc., the aggregate face amount of the offered notes
specified on the front cover of this pricing supplement. Goldman, Sachs & Co. proposes initially to offer the
notes to the public at the original issue price set forth on the cover page of this pricing supplement, and to
certain securities dealers at such price less a concession not in excess of 0.25% of the face amount.
We will deliver the notes against payment therefor in New York, New York on October 10, 2014, which is the
fifth scheduled business day following the date of this pricing supplement and of the pricing of the notes. Under
Rule 15c6-1 of the Securities Exchange Act of 1934, trades in the secondary market generally are required to
settle in three business days, unless the parties to any such trade expressly agree otherwise. Accordingly,
purchasers who wish to trade notes on any date prior to three business days before delivery will be required,
by virtue of the fact that the notes will initially settle in five business days (T + 5), to specify alternative
settlement arrangements to prevent a failed settlement.
We have been advised by Goldman, Sachs & Co. that it intends to make a market in the notes. However,
neither Goldman, Sachs & Co. nor any of our other affiliates that makes a market is obligated to do so and any
of them may stop doing so at any time without notice. No assurance can be given as to the liquidity or trading
market for the notes.
Calculation agent: Goldman, Sachs & Co.
CUSIP no.: 38147QH58
ISIN no.: US38147QH584
FDIC: the notes are not bank deposits and are not insured by the Federal Deposit Insurance Corporation or
any other governmental agency, nor are they obligations of, or guaranteed by, a bank
PS-6
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