Published on 9/12/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $358,000 leveraged buffered basket-linked notes on indexes
By Taylor Fox
New York, Sept. 14 – GS Finance Corp. priced $358,000 of 0% leveraged buffered notes due Sept. 8, 2022 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index with a 35% weight, the Russell 2000 index with a 25% weight, the Nasdaq-100 Technology Sector index with a 15% weight, the Euro Stoxx 50 index with a 12.5% weight and the iShares MSCI Emerging Markets ETF with a 12.5% weight.
The payout at maturity will be par plus 2 times the basket gain up to $1,167.5 per note.
Investors will receive par if the basket finishes flat or falls by up to 10% and will lose 1% for every 1% decline beyond 10%.
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: | Leveraged buffered index-linked notes
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Underlying indexes: | S&P 500 index (35%), Russell 2000 (25%), Nasdaq-100 Technology Sector index (15%), Euro Stoxx 50 (12.5%) and iShares MSCI Emerging Markets index (12.5%)
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Amount: | $358,000
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Maturity: | Sept. 8, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If basket return is positive, par plus 2 times basket gain, capped at $1,167.5 per notes; par if basket finishes flat or declines by up to 10%; 1% loss for every 1% decline beyond 10%
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Initial levels: | 3,580.84 for S&P, 1,592.287 for Russell, 6,915.116 for Nasdaq, 3,337.77 for Euro Stoxx,$45.18 for iShares
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Buffer level: | 90% of initial level
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Pricing date: | Sept. 2
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Settlement date: | Sept. 8
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.975%
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Cusip: | 40057CRV5
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