Published on 7/24/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $43.22 million leveraged notes on S&P 500
By Wendy Van Sickle
Columbus, Ohio, July 24 – GS Finance Corp. priced $43.22 million of 0% leveraged index-linked notes due Feb. 5, 2020 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 300% of the index gain, up to a maximum settlement amount of $1,195 for each $1,000 face amount.
Investors will be fully exposed to any decline in the index.
Goldman, Sachs & Co. is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Leveraged index-linked notes
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Underlying index: | S&P 500
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Amount: | $43,219,000
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Maturity: | Feb. 5, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 300% of any index gain, up to a maximum settlement amount of $1,195 for each $1,000 face amount; full exposure to loss
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Initial index level: | 2,726.71
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Pricing date: | July 2
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Settlement date: | July 10
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Underwriter: | Goldman, Sachs & Co.
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Fees: | 1.33%
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Cusip: | 40055QHU9
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