Published on 7/2/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $650,000 index-linked notes on S&P 500, Russell
By Sarah Lizee
Olympia, Wash., July 2 – GS Finance Corp. priced $650,000 of 0% index-linked notes due June 28, 2024 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the return of each index is zero or positive, the payout at maturity will be $1,315 per $1,000 of notes.
If either index falls by up to 40%, the payout will be par plus the absolute value of the return of the lesser performing index.
Otherwise, investors will be fully exposed to the decline of the lesser performing index from its initial level.
Goldman, Sachs & Co. is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Index-linked notes
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Underlying indexes: | S&P 500, Russell 2000
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Amount: | $650,000
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Maturity: | June 28, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the return of each index is zero or positive, $1,315 per $1,000 of notes; if either index falls by up to 40%, par plus the absolute value of the return of the lesser performing index; otherwise, investors will be fully exposed to the decline of the lesser performing index from its initial level
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Initial levels: | 2,917.38 for S&P and 1,521.035 for Russell
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Pricing date: | June 25
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Settlement date: | June 28
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Underwriter: | Goldman Sachs & Co.
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Fees: | 4.26%
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Cusip: | 40056FM36
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