Published on 4/1/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.59 million fixed-coupon buffered notes on Russell
By Wendy Van Sickle
Columbus, Ohio, April 1 – GS Finance Corp. priced $1.59 million of 3.7% fixed-coupon buffered notes due March 27, 2023 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Interest is payable quarterly.
The payout at maturity will be par unless the index finishes below 85% of the initial level, in which case investors will lose 1% for every 1% decline beyond 15%.
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: | Fixed-coupon buffered notes
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Underlying index: | Russell 2000
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Amount: | $1,592,000
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Maturity: | March 27, 2023
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Coupon: | 3.7%, payable quarterly
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Price: | Par of $1,000
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Payout at maturity: | Par unless index finishes below buffer level, in which case exposure to losses beyond 15%
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Initial level: | 1,180.319
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Buffer level: | 85% of initial level
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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: | 3.045%
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Cusip: | 40056YNJ9
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