Published on 5/1/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $149,000 index-linked notes on S&P 500, Russell
By Wendy Van Sickle
Columbus, Ohio, May 1 – GS Finance Corp. priced $149,000 of 0% index-linked notes due April 30, 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 par plus 1.175 times the return of the least performing index.
If either index falls but the return of each index is at least negative 35%, the payout will be par plus the absolute value of the return of the lesser performing index.
If either index falls by more than 35%, 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: | $149,000
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Maturity: | April 30, 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, par plus 1.175 times return of least performing index; if either index falls but the return of each index is at least negative 35%, par plus the absolute value of the return of the lesser performing index; otherwise, 1% loss for every 1% decline of the worse performing index
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Initial levels: | 2,926.17 for S&P and 1,575.612 for Russell
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Pricing date: | April 25
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Settlement date: | April 30
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Underwriter: | Goldman Sachs & Co.
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Fees: | 4.95%
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Cusip: | 40056FAG0
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