Published on 5/4/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $50,000 buffered index-linked notes tied to Stoxx
By Sarah Lizee
Olympia, Wash., May 4 – GS Finance Corp. priced $50,000 of 0% buffered index-linked notes due May 1, 2025 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 the index return.
If the index finishes flat or falls by up to 20%, investors will receive par. Investors will lose 1% for every 1% decline beyond the 20% buffer.
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: | Buffered index-linked notes
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Underlying index: | Euro Stoxx 50 index
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Amount: | $50,000
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Maturity: | May 1, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index closes above its initial level, par plus the index return; if the index finishes flat or falls by up to buffer level, par; otherwise, 1% loss for every 1% decline beyond the buffer
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Initial index levels: | 2,882.09
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Buffer level: | 80% of initial level
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Pricing date: | April 27
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Settlement date: | April 30
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 4.35%
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Cusip: | 40057E3C9
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