Published on 1/8/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $703,000 leveraged buffered notes on MSCI EM
By Sarah Lizee
Olympia, Wash., Jan. 8 – GS Finance Corp. priced $703,000 of 0% leveraged buffered notes due Jan. 11, 2022 tied to the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the index return is positive, the payout at maturity will be par plus 200% of the return, subject to a maximum settlement amount of $1,457.50 per $1,000 of notes. Investors will receive par if the index falls by up to 20% and lose 1.25% for every 1% decline below the buffer.
Goldman Sachs & Co. is the agent.
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: | MSCI Emerging Markets index
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Amount: | $703,000
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Maturity: | Jan. 11, 2022
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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 return, subject to a maximum settlement amount of $1,457.50 per $1,000 of notes; par if index falls by up to 20%; 1.25% loss for every 1% decline beyond buffer
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Initial level: | 964.97
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Pricing date: | Jan. 4
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Settlement date: | Jan. 11
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Underwriter: | Goldman Sachs & Co.
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Fees: | 0.5%
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Cusip: | 40056EQY7
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