Published on 1/24/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $1.95 million buffered notes on S&P 500
By Wendy Van Sickle
Columbus, Ohio, Jan. 24 – GS Finance Corp. priced $1.95 million of 0% buffered index-linked notes due Feb. 3, 2021 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 closes above its initial level, the payout at maturity will be par plus the gain, capped at $1,070 for each $1,000 face amount of notes.
If the index finishes flat or falls by up to 8.5%, investors will receive par. Otherwise, investors will lose 1.0929% for every 1% decline beyond 8.5%.
Goldman Sachs & Co. LLC is the agent. JPMorgan is the placement agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Buffered index-linked notes
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Underlying index: | S&P 500
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Amount: | $1.95 million
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Maturity: | Feb. 3, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index closes above initial level, par plus the gain, capped at $1,070 for each $1,000 face amount of notes; if index finishes flat or falls by up to 8.5%, par; 1.0929% loss for every 1% decline beyond 8.5%
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Initial index level: | 3,329.62
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Pricing date: | Jan. 17
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Settlement date: | Jan. 23
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Agent: | Goldman Sachs & Co. LLC
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Placement agent: | JPMorgan
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Fees: | 1.1%
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Cusip: | 40056YCG7
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