Published on 11/5/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.04 million index-linked notes tied to S&P, Russell
By Sarah Lizee
Olympia, Wash., Nov. 5 – GS Finance Corp. priced $1.04 million of 0% index-linked notes due Nov. 3, 2023 linked to 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 each index return is zero or positive, the payout at maturity will be the threshold settlement amount, $1,450 per $1,000 of notes.
If the laggard index falls by up to 40%, the payout will be par plus the absolute value of the return of the laggard index.
If the laggard index falls by more than 40%, investors will be fully exposed to the decline of the laggard 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 index, Russell 2000 index
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Amount: | $1,043,000
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Maturity: | Nov. 3, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If laggard index return is zero or positive, $1,450 per $1,000 of notes; if laggard index falls by up to 40%, par plus the absolute value of the return of the laggard index; otherwise, full exposure to losses of laggard index
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Initial values: | 2,711.74 for S&P, 1,511.413 for Russell
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Pricing date: | Oct. 31
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Settlement date: | Nov. 5
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Underwriter: | Goldman Sachs & Co.
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Fees: | 1.21%
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Cusip: | 40056E6U7
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