Published on 8/6/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.94 million leveraged buffered notes tied to S&P 500
By Sarah Lizee
Olympia, Wash., Aug. 6 – GS Finance Corp. priced $1.94 million of 0% leveraged buffered index-linked notes due July 30, 2021 tied 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 1.25 times the index return, capped at $1,190 per $1,000 note.
If the index return is negative but not less than negative 15%, the payout will be par.
Investors will lose 1% for every 1% decline in the index beyond 15%.
Goldman Sachs & Co. LLC is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Leveraged buffered index-linked notes
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Underlying index: | S&P 500
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Amount: | $1,937,000
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Maturity: | July 30, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index return is positive, par plus 1.25 times the index return, capped at $1,190 per $1,000 note; if the index return is negative but not less than negative 15%, par; 1% loss for every 1% decline in the index beyond 15%
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Initial index level: | 2,980.38
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Pricing date: | July 31
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Settlement date: | Aug. 5
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 0.5%
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Cusip: | 40056FWX9
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