Published on 10/17/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $3.61 million buffered PLUS linked to S&P 500
By Taylor Fox
New York, Oct. 19 – GS Finance Corp. priced $3.61 million of 0% buffered Performance Leveraged Upside Securities due April 5, 2023 linked to the S&P 500 index, according to a 424B2 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 of $10 plus double the index return, capped at $11.60 for each $10 note. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
Goldman Sachs & Co. LLC is the underwriter. Morgan Stanley Wealth Management is acting as dealer.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Buffered Performance Leveraged Upside Securities
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Underlying index: | S&P 500 index
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Amount: | $3,607,100
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Maturity: | April 5, 2023
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If the index return is positive, the payout at maturity will be par of $10 plus double the index return, capped at $11.60 for each $10 note; investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
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Initial index level: | 3,385.49
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Buffer level: | 90%
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Pricing date: | Sept. 16
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Settlement date: | Sept. 21
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Underwriter: | Goldman Sachs & Co. LLC
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Dealer: | Morgan Stanley Wealth Management
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Fees: | 3.175%
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Cusip: | 36259L501
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