By Sarah Lizee
Olympia, Wash., Sept. 25 – GS Finance Corp. priced $3.11 million of 0% leveraged buffered notes due April 29, 2020 linked to a basket of two exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The basket consists of the SPDR S&P MidCap 400 ETF trust with a 60% weight and the iShares Russell 2000 ETF with a 40% weight.
If the basket return is positive, the payout at maturity will be par plus 150% of the basket return, subject to a maximum payout of $1,183 per $1,000 of notes.
Investors will receive par if the basket declines by 10% or less and will lose 1% for every 1% that the basket declines beyond 10%.
Goldman Sachs & Co. is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Leveraged buffered notes
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Underlying basket: | SPDR S&P MidCap 400 ETF trust (60% weight) and iShares Russell 2000 ETF (40% weight)
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Amount: | $3,114,000
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Maturity: | April 29, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the basket return is positive, par plus 150% of the basket return, subject to a maximum payout of $1,183 per $1,000 of notes; par if the basket declines by 10% or less; 1% loss for every 1% that the basket declines beyond 10%
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Initial levels: | $373.05 for SPDR S&P MidCap, $171.22 for iShares Russell
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Pricing date: | Sept. 20
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Settlement date: | Sept. 25
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Underwriter: | Goldman Sachs & Co.
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Fees: | 0.15%
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Cusip: | 40055QYP1
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