Published on 10/17/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $188,000 index-linked notes on Russell, S&P
By Kiku Steinfeld
Chicago, Oct. 17 – GS Finance Corp. priced $188,000 of 0% index-linked notes due Sept. 30, 2024 tied to the Russell 2000 index and 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 each index finishes at or above its initial level, the payout at maturity will be par plus 1.35 times the lesser-performing index’s return.
If the lesser performing index falls by up to 40%, the payout will be par.
If either index falls by more than 40%, investors will be exposed to any losses of the worst-performing index.
Goldman Sachs & Co. LLC 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: | Russell 2000 and S&P 500
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Amount: | $188,000
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Maturity: | Sept. 30, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index closes at or above initial level, par plus 1.35 times lesser-performing index’s return; if lowest performing index falls by up to 40%, par; if either index falls by more than 40%, full exposure to losses
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Initial levels: | 1,550.654 for Russell, 2,984.87 for S&P
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Trigger buffer levels: | 60% of initial levels
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Pricing date: | Sept. 25
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Settlement date: | Sept. 30
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 4.475%
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Cusip: | 40056X6V3
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