Published on 11/14/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $677,000 buffered index-linked notes on Russell 2000
By Kiku Steinfeld
Chicago, Nov. 16 – GS Finance Corp. priced $677,000 of 0% buffered index-linked notes due Nov. 3, 2021 based on the performance of the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The payout at maturity will be par plus any index gain, up to the maximum settlement amount of $1,163 per $1,000 principal amount of notes.
Investors will receive par if the index falls by up to 10% and will lose 1.1111% for every 1% decline beyond 10%.
Goldman, Sachs & Co. LLC is the agent. J.P. Morgan 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: | Russell 2000
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Amount: | $677,000
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Maturity: | Nov. 3, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain, capped at $1,163 per note; par if index declines up to 10%; 1.1111% loss for every 1% decline beyond 10%
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Initial index level: | 1,590.482
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Buffer level: | 90% of initial level
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Pricing date: | Oct. 27
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Settlement date: | Nov. 10
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Agent: | Goldman, Sachs & Co. LLC
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Placement agent: | J.P. Morgan
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Fees: | 0.05%
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Cusip: | 40057EH83
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