Published on 7/28/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $119,000 more buffered digital notes linked to S&P
By Kiku Steinfeld
Chicago, July 28 – GS Finance Corp. priced $119,000 additional principal amount of 0% buffered digital notes due Jan. 21, 2022 linked 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.
The original $43.37 million principal amount of notes priced at par on July 17. The add-on priced at 100.1 on July 23. The total issue size is now $43.48 million.
If the index return is zero or positive, the payout at maturity will be the maximum settlement amount, $1,080 per $1,000 principal amount.
If the index return is negative but not below negative 25%, the payout will be par. If the index return is below negative 25%, investors will lose 1% for every 1% that the index declines beyond 25%.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Buffered digital index-linked notes
|
| Underlying index: | S&P 500
|
| Amount: | $119,000 add-on
|
| Total issue size: | $43,484,000
|
| Maturity: | Jan. 21, 2022
|
| Coupon: | 0%
|
| Price: | Par for original issue and 100.1 for reopening
|
| Payout at maturity: | If the index return is zero or positive, $1,080 per $1,000 of notes; if the index return is negative but not below negative 25%, par; otherwise, 1% loss for every 1% that the index declines beyond 25%
|
| Initial index level: | 3,215.57
|
| Buffer level: | 75% of initial level
|
| Pricing dates: | July 17 for $43,365,000 and July 23 for $119,000
|
| Settlement date: | July 22 for original issue and July 28 for reopening
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 0.2%
|
| Cusip: | 40057CGU9
|
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