Published on 9/6/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $187,000 index-linked notes tied to S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Sept. 6 – GS Finance Corp. priced $187,000 of 0% index-linked notes due March 3, 2023 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.
The payout at maturity will be par plus 1.09 times any gain of the lesser performing index. If the lesser performing index falls by up to 30%, the payout will be par plus the absolute value of its return.
Otherwise, investors will be exposed to any loss of the lesser performing index.
Goldman Sachs & Co. LLC 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 index, Russell 2000 index
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Amount: | $187,000
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Maturity: | March 3, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.09 times any gain of laggard index; if laggard index falls by up to 30%, par plus absolute value of its return; otherwise, exposure to any loss of least performing index
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Initial levels: | 2,926.46 for S&P and 1,494.84 for Russell
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Pricing date: | Aug. 30
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Settlement date: | Sept. 5
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 0.96%
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Cusip: | 40056FY74
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