Published on 7/14/2019 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $1.95 million index-linked notes tied to Nasdaq, Russell
By Kiku Steinfeld
Chicago, July 15 – GS Finance Corp. priced $1.95 million of 0% index-linked notes due July 31, 2020 tied to the lesser performing of the Nasdaq-100 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 neither index ever closes below its 75% trigger level during the life of the notes, the payout will be the maximum settlement amount of $1,110 for each $1,000 of notes.
If either index has closed below the trigger level during the life of the notes, but neither finishes below its initial level, the payout will be par.
Otherwise investors will lose 1% for every 1% decline of the worse performing index.
Goldman, Sachs & Co. LLC is the agent.
Issuer: | GS Finance Corp.
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Issue: | Index-linked notes
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Underlying indexes: | Nasdaq-100 and the Russell 2000
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Amount: | $1,947,000
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Maturity: | July 31, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If neither index ever closes below 75% trigger during life of notes, $1,110 for each $1,000 of notes; if either index has ever closed below its trigger, but neither finishes below initial level, par; otherwise, 1% loss for every 1% decline of the worse performing index
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Initial index levels: | 7,671.075 for Nasdaq, 1,566.572 for Russell
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Pricing date: | June 28
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Settlement date: | July 3
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Underwriter: | Goldman, Sachs & Co. LLC
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Fees: | 0.78%
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Cusip: | 40056FLN3
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