Published on 9/25/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $3.06 million leveraged buffered basket-linked notes
By Taylor Fox
New York, Sept. 25 – GS Finance Corp. priced $3.06 million of 0% leveraged buffered notes due Sept. 15, 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 MidCap 400 index with a 60% weight and the Russell 2000 index with a 40% weight.
The payout at maturity will be par plus 1.5 times the basket gain up to a maximum return of $1,180 per note.
Investors will receive par if the basket finishes flat or falls by up to 15% and will lose 1% for every 1% decline beyond 15%.
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 basket: | S&P MidCap 400 index with a 60% weight and the Russell 2000 index with a 40% weight
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| Amount: | $3,055,000
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| Maturity: | Sept. 15, 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 1.5 times basket gain, capped at $1,180 per note; par if basket finishes flat or declines by up to 15%; 1% loss for every 1% decline beyond 15%
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| Initial levels: | 1,857.15 for S&P MidCap and 1,507.751 for Russell
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| Buffer level: | 85% of initial level
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| Pricing date: | Sept. 10
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| Settlement date: | Sept. 15
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.175%
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| Cusip: | 40057CUG4
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