Published on 10/2/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $739,000 leveraged buffered notes tied to Russell 2000
By Wendy Van Sickle
Columbus, Ohio, Oct. 2 – GS Finance Corp. priced $739,000 of 0% leveraged buffered index-linked notes due March 30, 2022 tied to 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 index return is positive, the payout at maturity will be par plus 2 times the index return, subject to a maximum settlement amount of $1,210 per $1,000 principal amount of notes.
If the index return is zero or negative but not less than negative 10%, the payout will be par.
Investors will lose 1% for every 1% decline in the index beyond 10%.
Goldman Sachs & Co. LLC is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Leveraged buffered index-linked notes
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Underlying index: | Russell 2000
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Amount: | $739,000
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Maturity: | March 30, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index return is positive, par plus 2 times the index return, subject to a maximum settlement amount of $1,210 per $1,000 principal amount; if index falls by up to 10%, par; 1% loss for every 1% decline in the index beyond 10%
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Initial index level: | 1,550.654
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Pricing date: | Sept. 25
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Settlement date: | Sept. 30
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 3.125%
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Cusip: | 40056X7A8
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