Published on 8/13/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $2.45 million index-linked notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Aug. 13 – GS Finance Corp. priced $2.45 million of 0% index-linked notes due July 31, 2023 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the return of each index is zero or positive, the payout at maturity will be par plus 40%.
If either index falls but the return of each index is at least negative 40%, the payout will be par plus the absolute value of the return of the lower performing index.
If either index falls by more than 40%, investors will be fully exposed to the decline of the worse performing index.
Goldman, Sachs & Co. is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Index-linked notes
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Underlying indexes: | S&P 500, Russell 2000
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Amount: | $2,446,000
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Maturity: | July 31, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the return of each index is zero or positive, par plus 40%; if either index falls but the return of each index is at least negative 40%, par plus absolute value of laggard index return; if either index falls by more than 40%, full exposure to the decline of the worse performing index
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Initial levels: | 2,837.44 for S&P and 1,695.36 for Russell
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Pricing date: | July 26
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Settlement date: | July 31
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Underwriter: | Goldman Sachs & Co.
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Fees: | 4.43%
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Cusip: | 40055QMK5
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