Published on 11/15/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $1.78 million leveraged buffered index-linked notes on S&P 500
By Kiku Steinfeld
Chicago, Nov. 16 – GS Finance Corp. priced $1.78 million of 0% leveraged buffered notes due May 2, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 200% of the index return up to a maximum payout of par plus 19.5%. Investors will receive par if the index falls by up to 10% and lose 1% for every 1% that the index may 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 notes
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Underlying index: | S&P 500
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Amount: | $1,777,000
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Maturity: | May 2, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 200% of index return, up to maximum of par plus 19.5%; par if index falls by up to 10%; 1% loss for every 1% decline in index beyond 10%
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Initial level: | 3,390.68
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Pricing date: | Oct. 27
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Settlement date: | Oct. 30
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 2.775%
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Cusip: | 40057CYN5
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