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GS Finance aims to sell leveraged buffered notes tied to ETF basket
By Devika Patel
Knoxville, Tenn., Sept. 19 – GS Finance Corp. plans to price 0% leveraged buffered notes due April 29, 2020 linked to a basket of two exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The basket consists of the SPDR S&P MidCap 400 ETF trust with a 60% weight and the iShares Russell 2000 ETF with a 40% weight.
If the basket return is positive, the payout at maturity will be par plus 150% of the basket return, subject to a maximum payout of $1,183 per $1,000 of notes.
Investors will receive par if the basket declines by 10% or less and will lose 1% for every 1% that the basket declines beyond 10%.
Goldman Sachs & Co. is the agent.
The notes (Cusip: 40055QYP1) will price on Sept. 20 and settle Sept. 25.
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