Published on 4/24/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $615,120 capped gears linked to S&P 500
By Marisa Wong
Los Angeles, April 24 – GS Finance Corp. priced $615,120 of 0% capped gears due June 14, 2021 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the index return is positive, the payout at maturity will be par plus 3 times the index gain, capped at $11.885 per $10 face amount of notes.
Otherwise, investors will be fully exposed to the index decline.
Goldman Sachs & Co. LLC is the underwriter with UBS Financial Services Inc. as selling agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Capped gears
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| Underlying index: | S&P 500 index
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| Amount: | $615,120
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| Maturity: | June 14, 2021
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus 3 times any index gain, capped at par plus 18.85%; full exposure to any index decline
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| Initial index level: | 2,789.82
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| Pricing date: | April 9
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| Settlement date: | April 15
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| Underwriter: | Goldman Sachs & Co. LLC with UBS Financial Services Inc. as selling agent
|
| Fees: | 2.1%, including a selling concession of up to 2%
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| Cusip: | 36259H815
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