Published on 3/10/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $555,000 leveraged buffered notes on S&P 500
By Kiku Steinfeld
Chicago, March 10 – GS Finance Corp. priced $555,000 of 0% leveraged buffered index-linked notes due Aug. 30, 2022 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 200% of any index gain, up to a maximum settlement amount of $1,160 per $1,000 of notes.
Investors will receive par if the index finishes flat or falls by up to 10% and will lose 1% for each 1% decline beyond 10%.
The notes are guaranteed by Goldman Sachs Group, Inc.
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: | S&P 500
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Amount: | $555,000
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Maturity: | Aug. 30, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any index gain, subject to maximum settlement amount of $1,160 per $1,000 of notes; par if index finishes flat or falls by up to 10%; 1% loss for each 1% decline beyond 10%
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Initial level: | 3,128.21
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Buffer level: | 90% of initial level
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Pricing date: | Feb. 25
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Settlement date: | Feb. 28
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 3.175%
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Cusip: | 40056YE91
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