Published on 5/17/2019 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $1.11 million index-linked notes tied to Dow, S&P 500
By Wendy Van Sickle
Columbus, Ohio, May 17 – GS Finance Corp. priced $1.11 million of 0% leveraged index-linked notes due Nov. 20, 2020 tied to the Dow Jones industrial average and 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.
The payout at maturity will be par plus any gain of the lesser performing index, subject to a maximum settlement amount of $1,190 per $1,000 face amount of notes.
If the lesser performing index falls by up to 10%; investors will receive par. Investors will be exposed to losses of the lesser performing index beyond 10%.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Issue: | Index-linked notes
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| Underlying indexes: | Dow Jones industrial average and S&P 500
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| Amount: | $1,108,000
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| Maturity: | Nov. 20, 2020
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If both index returns are positive, par plus the return of the lesser performing index, subject to a maximum settlement amount of par plus 19%; par if lesser performing index falls by up to 10%; exposure to losses of lesser performing index beyond 10%
|
| Initial index levels: | 25,532.05 for Dow, 2,834.41 for S&P
|
| Pricing date: | May 14
|
| Settlement date: | May 17
|
| Underwriter: | Goldman, Sachs & Co. LLC
|
| Fees: | 0.9%
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| Cusip: | 40056FGS8
|
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