Published on 3/28/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $128,000 index-linked notes on S&P 500, Russell
By Sarah Lizee
Olympia, Wash., March 28 – GS Finance Corp. priced $128,000 of 0% index-linked notes due March 29, 2024 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 $1,310 per $1,000 note.
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 lesser performing index.
If either index falls by more than 40%, investors will lose 1% for every 1% 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: | $128,000
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Maturity: | March 29, 2024
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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, $1,310 per $1,000 note; 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 lesser performing index; otherwise, 1% loss for every 1% decline of the worse performing index
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Initial levels: | 2,818.46 for S&P and 1,528.166 for Russell
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Pricing date: | March 26
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Settlement date: | March 29
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Underwriter: | Goldman Sachs & Co.
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Fees: | 4.16%
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Cusip: | 40056EZ92
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