Published on 1/8/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $4.35 million buffered notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Jan. 8 – GS Finance Corp. priced $4.35 million of 0% buffered notes due Jan. 23, 2020 linked to the S&P 500 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 the index return, subject to a maximum upside settlement amount of $1,100 per $1,000 principal amount of notes.
If the index return is negative and the final index level is greater than or equal to 86.95% of the initial index level, the payout will be par plus the absolute value of the index return. Otherwise, investors will lose 1.1501% for every 1% that the index declines beyond 13.05%.
Goldman Sachs & Co. LLC is the underwriter. J.P. Morgan Securities LLC is agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Buffered notes
|
| Underlying index: | S&P 500
|
| Amount: | $4,348,000
|
| Maturity: | Jan. 23, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index return is positive, par plus index return, subject to maximum upside settlement amount of $1,100 per note; if index return is negative and final index level is greater than or equal to 86.95% of initial index level, par plus absolute value of index return; otherwise, 1.1501% loss for every 1% that index declines beyond 13.05%
|
| Initial index level: | 2,531.94
|
| Final index level: | Average of index’s closing levels on five trading days ending Jan. 17, 2020
|
| Pricing date: | Jan. 4
|
| Settlement date: | Jan. 9
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.1%
|
| Cusip: | 40056ESS8
|
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