Published on 12/31/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $7.83 million buffered PLUS linked to MSCI EM
By Cady Vishniac
Detroit, Dec. 31 – GS Finance Corp. priced $7.83 million of 0% buffered Performance Leveraged Upside Securities due June 27, 2023 tied to the MSCI Emerging Markets 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 of $10 plus 200% of the index return, subject to a maximum payment of $11.82. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
Goldman Sachs & Co. LLC is the underwriter. Morgan Stanley Wealth Management is acting as dealer.
Issuer: | GS Finance Corp.
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Guarantor: | GS Finance Corp.
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Issue: | Buffered Performance Leveraged Upside Securities
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Underlying index: | MSCI Emerging Markets index
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Amount: | $7,829,000
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Maturity: | June 27, 2023
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index gains, par plus 200% of index gain, subject to $11.82 maximum payment; par if index declines by 10% or less; 1% loss for every 1% that index declines beyond 10%
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Initial level: | 1,248.7
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Buffer level: | 90% of initial level
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Pricing date: | Dec. 22
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Settlement date: | Dec. 29
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Underwriter: | Goldman Sachs & Co. LLC
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Dealer: | Morgan Stanley Wealth Management
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Fees: | 2.575%
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Cusip: | 36259U113
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