Published on 8/20/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $252,000 leveraged buffered notes linked to the Dow
By Kiku Steinfeld
Chicago, Aug. 20 – GS Finance Corp. priced $252,000 million of 0% leveraged buffered index-linked notes due Jan. 26, 2021 tied to the Dow Jones industrial average, 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 double any index gain, up to a maximum settlement amount of $1,140.50 per $1,000 of notes.
If the index finishes flat or falls by up to 10%, investors will receive par. Investors will lose 1% for every 1% decline beyond 10%.
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: | Dow Jones industrial average
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Amount: | $252,000
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Maturity: | Jan. 26, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 2 times any index gain, up to a maximum settlement of $1,140.50 per $1,000 of notes, par if index finishes flat or falls by up to 10%, 1% loss for every 1% decline of index beyond 10%.
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Initial index level: | 27,154.20
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Buffer level: | 90% of initial level
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Pricing date: | July 19
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Settlement date: | July 26
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 0.15%
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Cusip: | 40056FQT5
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