Published on 4/1/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $582,000 leveraged buffered notes on Euro Stoxx 50
By Wendy Van Sickle
Columbus, Ohio, April 1 – GS Finance Corp. priced $582,000 of 0% leveraged buffered index-linked notes due March 30, 2023 tied to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the index closes above its initial level, the payout at maturity will be par plus 200% of the gain, capped at par plus 36%.
If the index finishes flat or falls by up to 30%, investors will receive par. Otherwise, investors will lose 1.4286% for every 1% decline of the index beyond 30%.
Goldman Sachs & Co. LLC is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Leveraged buffered index-linked notes
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Underlying index: | Euro Stoxx 50
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Amount: | $582,000
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Maturity: | March 30, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index closes above initial level, par plus 200% of gain, capped at par plus 36%; if index finishes flat or falls by up to buffer level, par; 1.4286% loss for every 1% decline of index beyond buffer
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Initial index level: | 2,847.78
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Buffer level: | 70% of initial level
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Final level: | Average of closing levels on five trading days ending March 27, 2023
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Pricing date: | March 26
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Settlement date: | March 31
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 2.175%
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Cusip: | 40056YP40
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